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Retirement tax questions
The SECURE ACT signed into law in December 2019 eliminated the age requirement for contribution to a Traditional IRA starting for 2020 contributions (does not apply to 2019 contribution even of made before April 15 2020). There is now NO age cutoff.
https://www.congress.gov/bill/115th-congress/house-bill/3554
So if this was a 2020 Traditional IRA contribution then as long as you have the necessary taxable compensation (money that you worked for) to qualify for a IRA contribution, TurboTax was correct in allowing it reguardless of age.
(For a simplified explanation of the retirement changes that the SECURE ACT made, see this Fidelity article:
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
February 8, 2020
7:33 PM