Posted on 04/17/2012 2:05:34 PM PDT by library user
You have got to be kidding. Contributions to a Roth IRA are not tax deductible. The money can be withdrawn without tax due if certain requirements have been met... I don't think "claiming an illegal deduction and waiting a few days" is one of them.
How many returns prepared by this so-called "accountant" have been audited?
You have got to be kidding. Contributions to a Roth IRA are not tax deductible. The money can be withdrawn without tax due if certain requirements have been met... I don’t think “claiming an illegal deduction and waiting a few days” is one of them.
How many returns prepared by this so-called “accountant” have been audited?
Um...what’s his email address. I got a couple of questions, too.
Maybe. He didn't say anything about a credit, only used "Roth IRA" and "higher refund" together. Unless he's incorporated or something like that those "certain qualifications" probably don't apply to the rest of us.
We found this out after filing our taxes and played with the numbers. If I added $1000 to the IRA line, our refund went up by $250. It was proportional, for every $1000 invested our refund would go up by $250.
We decided it wasn't worth the hassle and filing an amended return over.
Yes, that is true for a Traditional IRA, and has been true for many years. However, the poster specifically mentioned a Roth IRA. Those IRAs have different rules.
with my wife it should be a vanity tax deduction
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