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bb93
Level 1
Mar 25, 2022 10:27 AM UTC
Question

additional contributions for prior year retirement plans

does a Fidelity Brokage account qualify for the additional retirement contribution credit or does it have to be an IRA account?

 

    1 reply

    AmyC
    AmyC
    Alumni - Intuit
    Mar 25, 2022 5:21 PM UTC

    Retirement plans only. In order to contribute money for the prior year, it must be an IRA/ retirement account which includes the SEP and SIMPLE for business owners. For complete rules, see IRS Retirement-plans.

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