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Deductions & credits
At this point, it is probably too late to do anything to reduce the taxes owed from your investment income. You are not able to contribute to an IRA if you or your spouse do not have earned income for the year. If you took the money out of a retirement account, you could have re-deposited it, but that must be done within 60 days of the withdrawal.
It also would have been possible to reduce your taxes by selling any stocks that are currently worth less than what you purchased them for, but it is too late to do that now to apply to your 2021 taxes.
You can still make a deductible contribution to an HSA for 2021 before April 18, 2022 if you have a high deductible health plan.
‎April 6, 2022
10:33 AM