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Retirement Distribution Then Contribution to reduce tax
Hi,
I took a distribution from my Rollover IRA in 2023. Although taxes were taken out of my distribution, I still owe around $2500 due to my normal income. Can I contribute money to my IRA so that I don't owe the IRS that much money? I am 66, fyi.
Thanks for any advice!
March 30, 2024
8:43 AM