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| <jsubscribe[at]gmail.com> wrote in message news:6c370ab5-8da2-49c8-8497-feb19bb1d0a8[at]y21g2000hsf.googlegroups.com... - quote - > I made contribution to Roth IRA in 2007 AFTER I filed my 1040. I
There is generally no place that the contribution needs to be reported at> checked out form 8606 but it has no way of reporting ROTH IRA > contributions (Other than conversion from other IRAs). Do I have to > report my contribution to IRS to avoid any penalties/questions later? > If so, how do I report my Roth IRA contribution to IRA? > ========================================= MODERATOR'S COMMENT: > If this is a valid contribution, and if it does not qualify you > for a Retirement Savers Credit on Form 8880, there is no place to report > it. Make sure you keep a recod of this contribution in your own personal > records. this time. However, keep a record of this - as if you withdraw in a future year, contributions and converted amounts come out before earnings and that may have a tax effect if you're doing a non-qualified withdrawl. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| I made contribution to Roth IRA in 2007 AFTER I filed my 1040. I checked out form 8606 but it has no way of reporting ROTH IRA contributions (Other than conversion from other IRAs). Do I have to report my contribution to IRS to avoid any penalties/questions later? If so, how do I report my Roth IRA contribution to IRA? ========================================= MODERATOR'S COMMENT: If this is a valid contribution, and if it does not qualify you for a Retirement Savers Credit on Form 8880, there is no place to report it. Make sure you keep a recod of this contribution in your own personal records. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| ira, reporting, roth |
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