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Keogh Plan- deposit made within tax guidelines not counting for former year- how do I fix this?

I made a Keogh deposit of 25K in Feb 2019- well before the April 2019 cut off date for the 2018 year.

I then made a deposit feb 2020 for 34K for the 2019 year- again before the April deadline for the prior year contribution.
While retrieving my tax documents from Fidelity- I noticed my 2019 Keogh tax statement showed 25K. It was shockingly not applied to the 2018 work year

I am now concerned the 34K I put in for 2019 this Feb will show for 2020. To top it off there isn't even a tax document issued in Fidelity's system for 2018.

I filed my 2018 taxes showing a 25K deposit was made in the Keogh account, while Fidelity is showing zero.

Is there anything I need to do here or am I just losing it? Should I file the 2019 taxes showing I deposited the 34K meant for 2019- even though the tax document is showing the deposit meant for 2018?


Jim Schwartz
Title: Corporate financial advisor
Company: Wabash Financial Strategies
(Corporate financial advisor, Wabash Financial Strategies) |

I'm surprised you have not had a blunt conversation with Fidelity about their apparent mistake handling your 2018 deposit. Gather your documents for the $25k (e.g., cancelled check or copy of wire transfer debit for that deposit). Contact Fidelity now and request that they issue corrected documentation for the 2018 deposit.

The second discussion with Fidelity is that they must issue corrected documents for the 2019 deposit. Again, have all your documents in hand before you contact them. Sooner or later the IRS may discover your tax return doesn't match the documents from Fidelity.

If you made a $34k deposit this year for 2019, that is what your 2019 tax return should show, assuming your records support that. However, the due date for filing your 2019 return is now July 15. Get the Fidelity records corrected and then file your 2019 return.


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