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Retirement tax questions
Your answer will either be $5,500 or $11,000. You should not have contributed $11,000 in 2018 for 2018. You could have done $5,500 for 2017 by April 15, 2018. Then you could have added another $5,500 for 2018.
Please check your records. You could have put $11,000 into an IRA for 2018. You need to get your records straight. The IRS will know based on what was sent them.
The IRS says:
For 2018, 2017, 2016 and 2015, your annual total contributions to all of your traditional and Roth IRAs cannot be more than:
- $5,500 ($6,500 if you're age 50 or older), or
- your taxable compensation for the year, if your compensation was less than this dollar limit.
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‎February 4, 2020
5:32 PM