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#2
03-12-2005, 01:57 PM
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 Re: Change Roth contribution after filing? "rwm" <rmcintyre[at]mail.com> wrote: - quote - > I've decided decided I want to reduce the amount of my Roth
No.> contribution for 2004, and I've already filed. This change > will have no effect on taxes owed, or on any deductions or > credits. The amount contributed is not specified anywhere > in any form, so I don't see the need to file an amended > return since there is nothing to amend (some entries on form > 8880 will change but nothing here is Roth-specific). Do I > need to file an amended return? -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
03-12-2005, 12:41 PM
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| Re: Change Roth contribution after filing? rwm wrote: - quote - > I've decided decided I want to reduce the amount of my Roth
If you withdraw any part of your annual contribution with> contribution for 2004, and I've already filed. This change > will have no effect on taxes owed, or on any deductions or > credits. The amount contributed is not specified anywhere > in any form, so I don't see the need to file an amended > return since there is nothing to amend (some entries on form > 8880 will change but nothing here is Roth-specific). Do I > need to file an amended return? the related earnings before the due date of your tax return, it is as if you never made the contribution for 2004. However, you must report the earnings as taxable income in 2004. -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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03-12-2005, 12:22 PM
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| Re: Change Roth contribution after filing? "rwm" <rmcintyre[at]mail.com> wrote: - quote - > I've decided decided I want to reduce the amount of my Roth
No, but you will have a distribution to report on your 2005> contribution for 2004, and I've already filed. This change > will have no effect on taxes owed, or on any deductions or > credits. The amount contributed is not specified anywhere > in any form, so I don't see the need to file an amended > return since there is nothing to amend (some entries on form > 8880 will change but nothing here is Roth-specific). Do I > need to file an amended return? Form 8606. -- Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
03-09-2005, 10:36 PM
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| Change Roth contribution after filing? I've decided decided I want to reduce the amount of my Roth contribution for 2004, and I've already filed. This change will have no effect on taxes owed, or on any deductions or credits. The amount contributed is not specified anywhere in any form, so I don't see the need to file an amended return since there is nothing to amend (some entries on form 8880 will change but nothing here is Roth-specific). Do I need to file an amended return? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| change, contribution, filing, roth |
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