- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Roth IRA Deadline
Posted on 4/14/10 at 8:51 pm
Posted on 4/14/10 at 8:51 pm
To the gentlefolk of the Money Board:
My wife was slow to open her Roth IRA account and tried to fund it online tonight on ShareBuilder. Her deposit into the IRA would be dated 4/15/2010, and ShareBuilder said this deposit would not be eligible for a 2009 contribution.
My question: Is the deadline for a 2009 contribution 4/15/2010, or 4/14/2010? Googling for the answer brought up ambiguous results... some say UP TO the 15th.. some say the 15th... for example:
Does anyone have a firm answer for this for when we attempt to fund her account tomorrow morning?
My wife was slow to open her Roth IRA account and tried to fund it online tonight on ShareBuilder. Her deposit into the IRA would be dated 4/15/2010, and ShareBuilder said this deposit would not be eligible for a 2009 contribution.
My question: Is the deadline for a 2009 contribution 4/15/2010, or 4/14/2010? Googling for the answer brought up ambiguous results... some say UP TO the 15th.. some say the 15th... for example:
quote:
for the 2008 tax year, you can contribute up until April 15, 2009. For the 2009 tax year, it is April 15, 2010.
Does anyone have a firm answer for this for when we attempt to fund her account tomorrow morning?
1
Posted on 4/14/10 at 9:13 pm to ZugZug
Contributing tomorrow is fine.
I had the same problem with Schwab a few years ago. Their representative told me on the phone that it really doesn't matter if the web site software forces you to declare the contribution to be for the current year, it is not binding and ultimately comes down to what you file on your tax form. Hope he is right.
I had the same problem with Schwab a few years ago. Their representative told me on the phone that it really doesn't matter if the web site software forces you to declare the contribution to be for the current year, it is not binding and ultimately comes down to what you file on your tax form. Hope he is right.
Posted on 4/14/10 at 9:30 pm to Tigris
Ok, good to know.
Thanks!
Thanks!
Posted on 4/14/10 at 10:08 pm to Tigris
quote:That's assuming his wife's taxes have not been filed yet.
Contributing tomorrow is fine.
Posted on 4/14/10 at 10:12 pm to LSURussian
It's an after tax fund.
Why would it affect your taxes?
Why would it affect your taxes?
Posted on 4/14/10 at 10:54 pm to TheHiddenFlask
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.
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 on 4/15/10 at 1:24 am to ZugZug
You won't get a deduction for a Roth contribution so it won't matter. If you can get it designated as 2009, you could contribute again immediately for 2010 and get all of the growth earlier
Posted on 4/15/10 at 8:05 am to TheHiddenFlask
quote: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.
It's an after tax fund.
Why would it affect your taxes?
He still has to report the Roth contribution on the return even though it does not affect the amount of taxes owed. IRS Website
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News