Am doing 2020 taxes in TT and software indicates we can get a credit if we contribute to wife's IRA. Have tried to wade through tax code but am confused. Am concerned Turbo Tax 2020 isn't addressing circumstances.
- Can she open an IRA before 4/15/21 and fund max of $7K for credit for year 2020
- She turned 70.5 on 12/23/19
- She's retired, no earned income, receives SSA; I have a 401K through my employment
- Is she still subject to the Required Minimum Distribution for this new IRA
