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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121100  
Subject: Re: How does IRS track Roth contributions? Date: 2/11/2000 9:46 PM
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I'm not going to jump into the who shot John of this thread. I'll just state the rules.

1. You can make a 1999 contribution to a new or existing traditional or Roth IRA any time from now until 4/17/2000.

2. You can make a year 2000 contribution to a new or existing traditional or Roth IRA any time from now until 4/15/2001. (I haven't looked at the 2001 calendar. If April 15, 2001 is on a Saturday or Sunday, the deadline is the next business day.)

In the first post of this thread it was asked how IRS tracks contributions since you don't report them. The taxpayer doesn't report them, but the custodian does, on Form 5498. IRS can use that information, along with the information on your return, to determine if illegal contributions were made.

Phil Marti
Tax Preparer
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