Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 25, 2021 3:47:11 PM

Simple IRA

Does the law restrict contributions to a Simple IRA after age 72.  The program does not.

0 1 602
1 Replies
Level 8
Mar 29, 2021 4:02:22 PM

IRA Contribution Limits for 2020

 

If you're 70 ½ or older, you can't make a regular contribution to a traditional IRA. However, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.     

 

Here is a link to some helpful information on retirement contributions from the IRS:

 

IRS - Retirement Contribution Limitations