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Get your taxes done using TurboTax
yes you can as long as you have earned income and meet the other requirements for making an iRA contribution. You must take the RMD and then make a cash contribution.
The RMD will increase taxable income but if you can make a tax deductible IRA contribution for the same amount as the RMD, the net will be zero.
but note that this strategy will likely increase the RMD for next year (depending on how the IRA does for the year)
‎November 12, 2024
9:17 PM