I've decided decided I want to reduce the amount of my Roth contribution for 2004, and I've already filed. This change will have no effect on taxes owed, or on any deductions or credits. The amount contributed is not specified anywhere in any form, so I don't see the need to file an amended return since there is nothing to amend (some entries on form
8880 will change but nothing here is Roth-specific). Do I need to file an amended return?
No, but you will have a distribution to report on your 2005 Form 8606.
-- Phil Marti Clarksburg, MD
If you withdraw any part of your annual contribution with the related earnings before the due date of your tax return, it is as if you never made the contribution for 2004. However, you must report the earnings as taxable income in
2004.-- Alan
No.
-- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062
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