Form 8606
anoop
contribute
to a non-deductible IRA for 2009. So far, based on the information I
have been able to find, it sounds like I can make the contribution,
and
either:
(a) File the 8606 right now separately by April 15.
(No need to send in an amended return.)
Is there is an extended deadline for this? (I read
October 15 somewhere.)
(b) File the 8606 with next year's return.
What would be recommended?
Anoop
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Gene E. Utterback, EA, RFC, ABA
news:a001086b-75ff-4c3f...@g11g2000yqe.googlegroups.com...
>I have already filed my return for the year, but I now want to
> contribute
> to a non-deductible IRA for 2009. So far, based on the information I
> have been able to find, it sounds like I can make the contribution,
> and
> either:
> (a) File the 8606 right now separately by April 15.
> (No need to send in an amended return.)
> Is there is an extended deadline for this? (I read
> October 15 somewhere.)
> (b) File the 8606 with next year's return.
>
> What would be recommended?
>
> Anoop
You can do this by making the contribution by 04/15/10 and filing the 8606
as soon as possible.
The date for making an IRA contribution for the prior year is the due date
of the return WITHOUT extensions.
You also need to check with where you're investing the money to see what
their rules say about their receipt of the contribution. I know of
investment companies that say they have to have the money in hand by 04/15
and I know of at least 2 investment companies that say they'll use the
postmark on the envelope so you only have to MAIL it by 04/15.
Since today is 04/13 you need to know what your investment company's policy
is, otherwise you may find you have to unwind the transaction.
Good luck,
Gene E. Utterback, EA, RFC, ABA
anoop
<g...@alliancetax.com> wrote:
>
> You can do this by making the contribution by 04/15/10 and filing the 8606
> as soon as possible.
Does this mean the Form 8606 can be sent in after 4/15?
> Since today is 04/13 you need to know what your investment company's policy
> is, otherwise you may find you have to unwind the transaction.
I don't think that will be a problem because I'll open it online
and fund it with money in a taxable account that is already
at the brokerage.
Thanks for the response and for alerting me to the various issues.
Anoop
Barry Margolin
<cd4850da-15e9-4cb4...@y17g2000yqd.googlegroups.com>,
anoop <ghan...@gmail.com> wrote:
> On Apr 13, 9:47 am, "Gene E. Utterback, EA, RFC, ABA"
> <g...@alliancetax.com> wrote:
> >
> > You can do this by making the contribution by 04/15/10 and filing the 8606
> > as soon as possible.
>
> Does this mean the Form 8606 can be sent in after 4/15?
>
> > Since today is 04/13 you need to know what your investment company's policy
> > is, otherwise you may find you have to unwind the transaction.
>
> I don't think that will be a problem because I'll open it online
> and fund it with money in a taxable account that is already
> at the brokerage.
>
> Thanks for the response and for alerting me to the various issues.
>
> Anoop
I'm in a similar situation. I already funded the IRA after I e-filed my
tax return without including it.
I was going to file an amended return. Does this mean I just have to
file the 8606. Can it be e-filed all by itself?
I used TurboTax to file my tax return, does anyone know how I'd do this
with TT?
--
Barry Margolin, bar...@alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***
Phil Marti
> I have already filed my return for the year, but I now want to
> contribute
> to a non-deductible IRA for 2009. So far, based on the information I
> have been able to find, it sounds like I can make the contribution,
> and
> either:
> (a) File the 8606 right now separately by April 15.
> (No need to send in an amended return.)
> Is there is an extended deadline for this? (I read
> October 15 somewhere.)
> (b) File the 8606 with next year's return.
You must make the contribution no later than 4/15/2010. It will take
5 minutes to fill out and mail the 8606. Just do it and be done with
it. As for option (b), you do not report Tax Year 2009 items on your
Tax Year 2010 return.
Phil Marti
VITA/TCE Volunteer
anoop
> I'm in a similar situation. I already funded the IRA after I e-filed my
> tax return without including it.
>
> I was going to file an amended return. Does this mean I just have to
> file the 8606. Can it be e-filed all by itself?
Based on my research here and elsewhere you definitely do
not need an amended return. All you need is to send in 8606.
> I used TurboTax to file my tax return, does anyone know how I'd do this
> with TT?
I used turbotax as well. However, form 8606 is simple enough that
you can download it and fill it manually. At least that's what I have
done. I only need to try and mail it out some time tomorrow.
Anoop
Barry Margolin
<7da039a8-84ff-456f...@u22g2000yqf.googlegroups.com>,
anoop <ghan...@gmail.com> wrote:
> On Apr 13, 8:32 pm, Barry Margolin <bar...@alum.mit.edu> wrote:
>
> > I'm in a similar situation. I already funded the IRA after I e-filed my
> > tax return without including it.
> >
> > I was going to file an amended return. Does this mean I just have to
> > file the 8606. Can it be e-filed all by itself?
>
> Based on my research here and elsewhere you definitely do
> not need an amended return. All you need is to send in 8606.
>
> > I used TurboTax to file my tax return, does anyone know how I'd do this
> > with TT?
>
> I used turbotax as well. However, form 8606 is simple enough that
> you can download it and fill it manually. At least that's what I have
> done. I only need to try and mail it out some time tomorrow.
But the data on this form needs to be carried forward to future years,
doesn't it? TT normally imports data from the previous year's return,
so I should still update it in there.
What I think I'll do is enter the corrected data, then print out just
that form and mail it in.
Where do I find the address to send it to? Wouldn't it be great if I
could just email them a PDF? But that would be too 21st century....
--
Barry Margolin, bar...@alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***
--
anoop
> But the data on this form needs to be carried forward to future years,
> doesn't it? TT normally imports data from the previous year's return,
> so I should still update it in there.
I thought about that too but figured I'd just deal with it
next year.
> What I think I'll do is enter the corrected data, then print out just
> that form and mail it in.
>
> Where do I find the address to send it to?
I just used the same address that I used for my 1040.
Anoop
Barry Margolin
<dac705f5-db4d-4e14...@s9g2000yqa.googlegroups.com>,
anoop <ghan...@gmail.com> wrote:
> On Apr 15, 5:32 pm, Barry Margolin <bar...@alum.mit.edu> wrote:
> > Where do I find the address to send it to?
>
> I just used the same address that I used for my 1040.
How 1990's of you. I haven't filed a paper return in years.
I found a page on the IRS web site where you can select your state and
find out where to send the return.
http://www.irs.gov/file/content/0,,id=105693,00.html
--
Barry Margolin, bar...@alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***
--