Roth IRA Tax Question

Parent Cafe
1

<p>I’m helping a relative review their taxes (they’ve already filed, but they asked me to check it for them… yes clearly this would have been better before filing but better late than never).</p>

<p>Anyway, I noticed that they didn’t max out their potential Roth IRA contribution for the 2009 tax year and they have some extra cash that could be put towards this limit. </p>

<p>Question: Can they still make an additional contribution, up to the limit, without having to filing an amended return? I know you can add to your IRA up until 15 April and have it apply to to the previous year’s limit, but does this still work if you’ve already filed your return? Since it’s a Roth it wouldn’t result in more or less taxes owed so does the IRS even care (so long as you’re staying within the limits)?</p>

2

<p>OK, I seem have found the answer to my own question. Apparently you are supposed to file an amended return, but since it won’t effect taxes owed it’s quite painless and you just have to mail in a form.</p>

3

<p>I see no reason to send anything in. It’s not deductible and doesn’t affect your taxes. You actually have until April 15 of this year to put money in for 2009 and you can do it after you file your return.</p>