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Retirement tax questions
Yes, you can put the money into your IRA for both 2021 and 2022 contributions however this is not considered a 'rollover' that requires a 60 day position. Your distribution of earnings is taxable so you can make the contributions within the timeframe for contributing to an IRA.
And based on your information that you qualify for making a contribution I want to just add that you must have earned income to make a contribution to your IRA. Keep in mind the following allowed maximum contributions:
For 2022, 2021, 2020 and 2019, the total contributions you make each year to all of your Traditional IRAs and Roth IRAs can't be more than:
- $6,000 ($7,000 if you're age 50 or older), or
- If less, your taxable compensation for the year (earned income)
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‎February 10, 2022
5:40 AM