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  • 1.  IRA contribution tax deduction correction

    Posted 03-25-2025 11:38 AM

    Hello everyone,

    We're almos there :)

    I have a client who has been making an IRA contribution each year for about 10 years and has taken the appropriate tax deduction each year.
    Unfortunately, I just found out that it was not an IRA contribution, but a ROTH IRA contribution that she put $ into each of the preceding years.

    Is the only way to correct this to amend each of the previous years' returns and eliminate the deduction, and pay the appropriate tax and penalties?

    As of right now, the IRS has never sent her any notices regarding this error.

    Thank you in advance for your help,

    Connie Machado, EA



    ------------------------------
    Conchita (Connie) Machado, EA, CAA
    Member for C M Tax LLC
    8381 Promoso Ct.
    Naples, FL 34114
    P. 631-750-3061
    ------------------------------


  • 2.  RE: IRA contribution tax deduction correction

    Posted 03-26-2025 07:20 AM
    Hi Conchita

    I would amend the returns 2022 and 2023 since 2021 will come off the board on April 15th. Thou wait and see and if she is a New York resident I am very surprised they didn't catch it as they are very aggressive.

    Stay safe as we go down the stretch .



    Original Message


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