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re: Contributing to Roth IRA for 2014 after already completing taxes for 2014
Posted on 3/2/15 at 9:46 am to ell_13
Posted on 3/2/15 at 9:46 am to ell_13
quote:
I know I have until april to contribute, but how will this work tax-wise?
Roth contributions have absolutely no impact on your taxes.
The only thing would be if your MAGI is over the allowable threshold for contributions. That MAGI level is around 181,000 and it is phased out, so if you didn't have a MAGI over that amount contributing to a Roth will have absolutely no bearing on your 2014 tax return.
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