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re: Roth IRA Deadline

Posted on 4/14/10 at 10:12 pm to
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 4/14/10 at 10:12 pm to
It's an after tax fund.

Why would it affect your taxes?
Posted by ZugZug
Member since Jan 2010
249 posts
Posted on 4/14/10 at 10:54 pm to
Dammit. She's filed her 2009 taxes already.

Well, lesson learned. Thanks guys for the additional info.

ETA: It sounds like there's some minor disagreement on the tax filing issue. I'll let that play out on here if you guys are willing to discuss. I'll be asking my advisor tomorrow about this also. If there's no resolution to the issue here, I'll post whatever I find out tomorrow for others to know.
This post was edited on 4/14/10 at 10:56 pm
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 4/15/10 at 8:05 am to
quote:

It's an after tax fund.

Why would it affect your taxes?
It doesn't affect the amount of taxes owed, but contributing for any IRA must be done no later than the date a person files his tax return.

He still has to report the Roth contribution on the return even though it does not affect the amount of taxes owed. IRS Website
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