If my IRA administrator did not issue me a 1099 for a contribution I made to an IRA earlier this year but claimed on my 2018 taxes, what should I do?

Sep 06, 2019

I made contributions to an IRA in February 2019 and claimed the deduction on my 2018 federal taxes. I did not get a 1099 from the fund. I questioned the fund administrator and was told that I needed to have told them it was for 2018. Is there anything I can do? Or do I need to file an amended return eliminating the deduction?

This is a difficult, and, unfortunately, common situation. It is hard for you to prove that you did or didn't tell them, or that they should have known better. Your best course of action would be to ask the administrator to amend their reporting. They can do this, but they aren't always willing to do so. If they refuse to correct it, the best thing for you to do would be to amend your return and show the deduction in 2019.

For more resources, check out PICPA’s Money & Life Tips, Ask a CPA, or CPA Locator.

Answered by: David A. Caplan, CPA, is a sole practitioner in Lafayette Hill, Pa.

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