@chris1kg wrote:
I think theoretically (kind of extreme) you can contribute 6000 on Dec 31 2020 and another 6000 on Jan 1 2021 without problem.
I also believe the trustee (Fidelity etc.) system will easily figure out, in other words, their system will prohibit you from doing so if indeed disallowed.
@chris1kg - I Think you either misunderstand the question or the tax law.
You can ONLY contribute the maximum amount for any tax year, but you have until the filing date of that tax year to contribute it. If you made a 2020 contribution *in* 2020 then that is the maximum for 2020 an you cannot contribute any more *for* 2020 in 2021. Any 2021 contribution can only be applied to the 2021 tax year.
If you want references then refer to and read IRS Pub 590A that explains the tax law.
https://www.irs.gov/publications/p590a
(And I do not know what "Fidelity" has to do with it since we do not know the financial institution, but do not depend of the financial institution to disallow it - often they do not check or it is a different financial institution that does not know was was done at another financial institution.)
**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.**
