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  • IRA contributions

    I contributed $3000 in an IRA in 2004 which I applied on 2003 taxes. I just
    received form 5498 which showed this information and which lowered my taxes
    last year. Why did I receive this now. It is saying that this is
    deductible for 2004, but I already applied this amount last year when I
    filed 2003 taxes.

    Patrick



  • #2
    IRA contributions

    In article <[email protected]>,
    Patrick Barao <[email protected]> wrote:
    I contributed $3000 in an IRA in 2004 which I applied on 2003 taxes. I justreceived form 5498 which showed this information and which lowered my taxeslast year. Why did I receive this now. It is saying that this isdeductible for 2004, but I already applied this amount last year when Ifiled 2003 taxes.
    If you told the IRA custodian to apply the 3000 towards 2003 and
    not 2004, and did this not later than 4/15/04, then the custodian
    messed up. Now the tough part is going to be to get him to
    correct his mistake. Make waves if necessary.
    --

    __
    Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

    Comment


    • #3
      IRA contributions

      so the custodian made a mistake even though I was able to lower my taxes by
      $800 last year after opening this IRA contributing $3000?


      "Arthur Kamlet" <[email protected]> wrote in message
      news:[email protected]
      In article <[email protected]>, Patrick Barao <[email protected]> wrote:
      I contributed $3000 in an IRA in 2004 which I applied on 2003 taxes. I
      just
      received form 5498 which showed this information and which lowered my
      taxes
      last year. Why did I receive this now. It is saying that this isdeductible for 2004, but I already applied this amount last year when Ifiled 2003 taxes. If you told the IRA custodian to apply the 3000 towards 2003 and not 2004, and did this not later than 4/15/04, then the custodian messed up. Now the tough part is going to be to get him to correct his mistake. Make waves if necessary. -- __ Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

      Comment


      • #4
        IRA contributions

        In article <[email protected]>,
        Patrick Barao <[email protected]> wrote:
        so the custodian made a mistake even though I was able to lower my taxes by$800 last year after opening this IRA contributing $3000?"Arthur Kamlet" <[email protected]> wrote in messagenews:[email protected]
        In article <[email protected]>, Patrick Barao <[email protected]> wrote:
        I contributed $3000 in an IRA in 2004 which I applied on 2003 taxes. I
        just
        received form 5498 which showed this information and which lowered my
        taxes
        last year. Why did I receive this now. It is saying that this isdeductible for 2004, but I already applied this amount last year when Ifiled 2003 taxes. If you told the IRA custodian to apply the 3000 towards 2003 and not 2004, and did this not later than 4/15/04, then the custodian messed up. Now the tough part is going to be to get him to correct his mistake. Make waves if necessary.
        You told us you made your 2003 contribution in 2004, and if you
        did that by 4/15/04, you deducted it when ou did our taxes last
        year. At least that is how I interpreted your message.
        oIf so, the custodian had better have credited that contribution
        to your 2003 IRA contribution amount.
        --

        __
        Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

        Comment

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