Author Topic: Roth IRA question  (Read 1330 times)

KidneyMD

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Roth IRA question
« on: January 19, 2015, 01:43:06 PM »
I have not yet contributed to my Roth IRA for the 2014 tax season, but anticipate that in the next month or two I'll be able to make the full $5500 contribution for the 2014 season. I notice on the Vanguard site that they send tax forms in May for contributions made between Jan 1, 2015 and Apr 15, 2015 for the 2014 tax year, but this is obviously past the tax day deadline. Should I still make the contribution and declare it on my taxes if I file early (e.g. February or March)? If I can't declare it without the form, should I wait until next year's taxes and declare both my 2014 and 2015 contributions (if that's possible?) Sorry I'm a bit confused by this.

Philociraptor

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Re: Roth IRA question
« Reply #1 on: January 19, 2015, 01:46:09 PM »
You wouldn't get any tax forms if you contributed to a Roth since the contributions are post-tax and non-deductible.

Yankuba

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Re: Roth IRA question
« Reply #2 on: January 19, 2015, 01:58:51 PM »
You wouldn't get any tax forms if you contributed to a Roth since the contributions are post-tax and non-deductible.

Ditto - nothing to worry about - make your investment

SaintM

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Re: Roth IRA question
« Reply #3 on: January 19, 2015, 04:54:46 PM »
You will get a Form 5498 from the brokerage but you don't need it for your taxes. My form shows the account FMV, type (Roth), and RMD (0).