acw380
New Member

I want to fund a new Traditional IRA to lower my AGI for filling my 2021 taxes. Will contributions from my bank account that is already taxed still lower my AGI for 2021?

I would like to fund the account with the maximum, $6000, post tax from my bank account. Will this reduce my AGI by $6000 and give me a tax return on the taxes I already paid on the $6000?