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I took a distribution from my IRA in 2016. Can I make an IRA contribution before April 2017 to reduce my taxes?
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June 6, 2019
3:27 AM
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Retirement tax questions
Yes, assuming you would otherwise be qualified to make a IRA contribution, then you can do so by the due date of the return, 4/18/17, for tax year 2016.
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June 6, 2019
3:27 AM
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Retirement tax questions
You must also be qualified for a deductible contribution.
June 6, 2019
3:27 AM
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Retirement tax questions
I am qualified and when I put the deduction in the field before dec 31, turbotax lets me take the credit, but if I put it in the field Jan 1 2017 - 4/17/2017 , it does not let me take the deduction. I don't understand. It must be a bug.
June 6, 2019
3:27 AM
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Retirement tax questions
Do you have entries in both fields? Ex: Total 2016 contribution is 4000 and the portion of the above contribution is also 4000.
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June 6, 2019
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Retirement tax questions
*portion that is btw 1/1/17 - 4/18/17 is also 4000
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June 6, 2019
3:27 AM
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Retirement tax questions
Contact live help. They can share your desktop, to 'see' what else might be preventing the deduction. <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number">https://ttlc.intuit.com...>
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June 6, 2019
3:27 AM