IRA deduction claimed but not actually funded

Submitted by Matt Groome on Thu, 2019-10-03 17:44

Client claimed tradition IRA deduction for 2018 taxes based on deposit that was supposed to be made prior to April 15, 2019. However, the deposit was never received. What is the remedy in this situation? File amended tax return or make late deposit to IRA?



Submitted by William Tuttle on Thu, 2019-10-03 17:46

An amemded return is required.



Add new comment

Log in or register to post comments