If I make a 2006 catch-up contribution to my Roth IRA, does that change anything? Do I need to report anything right now to the IRS?
2007-02-13 09:20:24 · 5 answers · asked by marky p 1 in Business & Finance ➔ Taxes ➔ United States
No, that has no tax consequences.
2007-02-13 09:25:16 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
The contribution can be made up until April 17, 2007. A contribution to a Roth is a contribution of after tax dollars, so it wouldn't change anything on your 2006 return, so you wouldn't need to file an amended return.
2007-02-13 17:25:00 · answer #2 · answered by jseah114 6 · 2⤊ 0⤋
it does not affect your tax return since the contribution is not tax-deductible. you do not need to report anything to the IRS.
2007-02-13 17:25:59 · answer #3 · answered by tma 6 · 1⤊ 1⤋
If you're a cash-basis taxpayer, then any cash you spend in 2007 will go on your 2007 income taxes, not 2006.
2007-02-13 17:28:01 · answer #4 · answered by cg17 4 · 0⤊ 2⤋
Actually no, you can report it for your 07 taxes.
2007-02-13 17:25:18 · answer #5 · answered by curls 4 · 0⤊ 3⤋