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2014 Roth IRA contribution question

Posted on 3/17/15 at 11:12 am
Posted by 12more
Member since Jun 2011
617 posts
Posted on 3/17/15 at 11:12 am
Is it still possible to open and make contributions to a Roth IRA for 2014 before filing taxes, or would the Roth IRA account have needed to be opened by 12/31/2014 ?

Thanks in advance.
Posted by Big Saint
Houston
Member since May 2009
1457 posts
Posted on 3/17/15 at 11:23 am to
You can make contributions for 2014 until April 15.
Posted by Croacka
Denham Springs
Member since Dec 2008
61447 posts
Posted on 3/17/15 at 11:40 am to
You don't even have to do it before you do your taxes since it has no impact on your taxes
Posted by lsufan1971
Zachary
Member since Nov 2003
20298 posts
Posted on 3/17/15 at 11:51 am to
quote:

Is it still possible to open and make contributions to a Roth IRA for 2014 before filing taxes, or would the Roth IRA account have needed to be opened by 12/31/2014 ?


There are income limitations for a Roth. If your a single filer your AGI has to be lower than 114K and if married 181K. You can open the account now and back fund for 2014.
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3851 posts
Posted on 3/17/15 at 11:57 am to
If you're married filing separately can you fund a ROTH if your personal AGI is lower than 114k?
Posted by ell_13
Member since Apr 2013
85746 posts
Posted on 3/17/15 at 12:17 pm to
I was called a retard for asking a question like this.

Like a few others have said. You can make 2014 contributions until April 15th... at any time, regardless of when you do your taxes. There are no tax implications even though the H&R Block software asks you for it.
Posted by lsufan1971
Zachary
Member since Nov 2003
20298 posts
Posted on 3/17/15 at 12:26 pm to
Posted by Croacka
Denham Springs
Member since Dec 2008
61447 posts
Posted on 3/17/15 at 1:16 pm to
I'm guessing the HRBlock software asks you so it can verify your eligibility or calculate your maximum contribution
Posted by ell_13
Member since Apr 2013
85746 posts
Posted on 3/17/15 at 1:48 pm to
Probably so. But heaven forbid I ask the damn question.
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