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So I already did my taxes this year and received my return. I am curious if I am still able to contribute to my Roth IRA for the 2013 year even after having done so, as I understand you can contribute until April 15th.

However, being that I already filed my taxes, is this doable? What are the repercussions if there are any? Is the tax amendment process tedious for such a scenario?

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Yes, you can still make a 2013 Roth IRA contribution before the tax filing deadline. But be sure to check the income limitations for making Roth IRA contributions. High earners (defined differently for different filing status) are not permitted to make Roth IRA contributions. If you are expecting to get a refund on your 2013 tax return, you can even file early and use the refund toward your 2013 Roth IRA contribution. Note that Roth IRA contributions are not declared on your income tax return and so it is not necessary to file an amended return after making the Roth contribution (see this question, pointed out by @JoeTaxpayer, for details on how the IRS knows that you have made a Roth IRA contribution). Indeed, if the refund does not come in time and you choose to not make a Roth IRA contribution for 2013 after all (or decide to make a reduced contribution), no paperwork needs to be done by you.

You can also make Traditional IRA contributions after filing your tax return but before the deadline, and use the tax refund from the 2013 tax return towards the 2013 IRA contributions. However, if the tax refund is not received in time, and you choose to reduce your 2013 Traditional IRA contribution (or not make it at all), then an amended return is required (and you owe tax or will get a reduced refund) because you have already declared that you will be making a Traditional IRA contribution (and deducted that amount) when you filed your income tax return early and computed that you overpaid and will be getting a refund.

  • +1 just addressed the "tax amendment" piece of question via edit. You may re-edit if you wish. – JoeTaxpayer Mar 7 '14 at 17:23
  • hey joe, so if i already filed my taxes and contribute to my 2013, is it okay that I didn't report this to the IRS? – SYSzero Mar 10 '14 at 15:18

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