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Subject:  Re: 2002 Roth Contribution Date:  3/9/2003  8:34 PM
Author:  Mark0Young Number:  35861 of 88544

May I make my 2002 Roth contribution now (or before April 15) and not have to re-file (modify) my state and federal returns?

Since the Roth IRA contributions are not reported on your Federal Tax Returns, there is no reason to refile your Year 2002 Federal Tax Returns if you make your Year 2002 Roth IRA contribution in the next 6 weeks. (The Roth IRA custodian will report the your contribution.)

If you qualify for a Retirement Savings Credit, you would have to file an ammended return to get that credit. It's unlikely that you will qualify if you are near the Roth IRA phase-out.

Roth IRA contributions are not shown on the Oregon State Tax Returns, but a Retirement Savings Credit that reduces your federal tax obligation has the potential of affecting Oregon state income taxes because the federal tax obligation, up to a limit, is an Oregon State subtraction. (Subtraction? I don't know why Oregon came up with a different vocabulary.)

I can't speak about other states.

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