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Can I contribute my 2022 earnings to Traditional IRA for reducing 2021 taxes?
I was a full time student in 2021 and only got employed in Dec 2021. But I did not earn $6000 as salary in 2021, though I got dividends (from my stocks investments that my mom had gifted to me) that amount to $6000. Can I still invest $6000 in Traditional IRA from my salary earned in 2022 and use that to reduce my taxes of 2021 as Turbo Tax says I still have time until April 2022 to contribute to Traditional IRA for 2021 taxes? Thank you.
March 8, 2022
6:32 PM