2019 Roth IRA contribution Date
Client filed his 2019 Federal taxes, MAGI allows for a 2019 Roth IRA contribution but never made one. With markets down substantially he now wants to make a 2019 Roth IRA contribution. I assume this is possible until July 15th. Didn’t know if the July 15th contribution date was only for those who didn’t yet file.
If allowed I see no reason to amend Fed return just to report the contribution since IRA custodian will on 5498 and MAGI well below allowed limits
Permalink Submitted by Alan - IRA critic on Thu, 2020-04-02 00:30
The 7/15 date is the contribution deadline for all, whether they filed yet or not. Roth contributions are not reported on tax returns anyway, so if 2019 has been filed that does not create any problem (exception applies if client is eligible for the savers credit, since 2019 tax due would then be reduced by this contribution).