I'm 58 years old, and I'm considering contributing $6500 to a traditional IRA before April 18, 2017. When I enter $6500 in the 2016 contribution amount in Turbo Tax Premier, it doesn't change my tax liability, but it also asks me how much of that contribution was made from Jan 1-April 18, 2017, when I enter $6500 in the 2017 date field it increases my taxes due for 2016. If I'm able to contribute $6500 before April 18, 2017 why does it penalize me for when I make the contribution in 2017?
