The Money Mustache Community
Learning, Sharing, and Teaching => Taxes => Topic started by: bigote2032 on February 03, 2019, 05:35:49 PM
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Hello all!
Bad day for me, I filed taxes today expecting a good refund and had to pay $2K to the IRS. Not only that but I totally forgot to file for my $5,500 contribution to IRA and conversion to ROTH IRA I did last year.
I file via turbo tax online and was going to follow the instructions on this awesome article on how to do the IRA/ROTH IRA thing:
How To Report Backdoor Roth In TurboTax
https://thefinancebuff.com/how-to-report-backdoor-roth-in-turbotax.html
What should I do now, would I get in trouble? Do I need to wait for the next tax season to do this?
My tax file was already approved by IRA so don't think it can be cancelled.
Thanks.
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File an amended return. Do it sooner rather than later. Turbotax has a way to do this.
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Thanks dandarc, I just went to turbotax and it seems the amendment return is not ready yet, will try again on Friday
"This is a nationwide delay for all returns like yours, no matter who's preparing them.
You're going to have to wait until the tax form for amending a return (Form 1040X) is ready for processing.
Form 1040X will be ready on 02/08/2019."