I prepared my own tax returns for 2024 and this is the first year I contributed to an IRA. On the tax return, I claimed my contribution on a traditional IRA and received a small refund due to the deduction.
My actual contribution with the bank was to a Roth IRA. Which I've recently learned is tax deferred, not deductible.
- Do I need to amend this?
- Will I owe for the return I received plus fees and interest?
Please help 🙏
Help with a tax return question/IRA Contributions
byu/Significant-Tie6641 intax
Posted by Significant-Tie6641