@dahiana wrote:
I am unsure because you can contribute to your Roth IRA and have it count as a 2020 contribution all the way until April 15th, 2021. Therefore, if I contribute $6,000 in 2020 and another $6,000 before April 15, 2021, will it think I contributed $12,000 for 2020?
You can only contribute a maximum of $6,000 for 2020 if you are under age 50 ($7,000 if older). It makes no difference if it was contributed in 2020 or 2021 *for 2020* - it's still a total of $6,000 for 2020. In 2021 you can make a 2021 (not 2020) new contribution if you have sufficient taxable compensation - that would be a 2021 contribution independent of any 2020 contribution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
