It depends -
The ability to make
a deductible IRA contribution depends on such factors as your filing status,
your level of income and if you have a retirement plan through your employer
(or your spouse's employer). Click this link for the IRA phase-out limitations - https://www.irs.gov/retirement-plans/ira-deduction-limits
If you qualify, you
still have time to make contributions to an IRA that you can deduct on your
2017 tax return. When making this contribution, you will need to indicate that
your contribution is for the 2017 tax year.
You have until April
16, 2018 for make contributions to an IRA for 2017 tax year.
For more information
about IRA contributions and limitations, please refer to this IRS link:
https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-L...
Go into TurboTax and
run a couple of scenarios with various amounts of contributions.
