DanaB27
Expert Alumni

Deductions & credits

For years 2019 and earlier if you were 70 ½ or older, you weren't allowed to make a regular contribution to a traditional IRA. But the law changed and since 2020 there is no age limit on making regular contributions to traditional or Roth IRAs. Therefore, as long as you have the taxable compensation you can contribute to the traditional IRA.

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