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Retirement tax questions
If I understand correctly: you received an RMD, and then made a contribution to a traditional IRA.
- You can make an IRA contribution after age 73 if you have earned income.
- See Contributions in IRS Topic no. 451, Individual retirement arrangements (IRAs)
- This is income from wages, salaries or self employment. It does not include pensions, retirement accounts or investments..
If that is the case, you would enter the RMD and select "I did something else with the money."
This is not a rollover.
You would then record the contribution under Federal
- Deductions & Credits
- On the center drop down menu
- Select Traditional and Roth IRA Contributions
- Enter as a Traditional IRA
- Continue to follow the interview.
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‎February 17, 2025
8:59 AM