edavis-j
New Member

What is a "regular contribution" for a Traditional IRA?

When it got to the tax deduction portion for the IRA's, it brought us to the page where we could open mint and find a place to create an IRA and it says you can get an additional deduction on your taxes.  We figure, sounds like a win/win, open a retirement account and get a larger deduction.

So on the TurboTax page it asks if we plan on making a regular contribution to the IRA by April 2017.  When it says regular, does that mean a single deposit, a monthly deposit, or is there some other guidelines or stipulations on what fulfills that?  Does a specific amount of money need to be deposited to meet the requirements?