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posted Mar 15, 2021 5:54:29 AM

Age restrictions on IRA contributions+

Your turbo tax program is telling me I cannot make a contribution to my IRA because I am older than 70 1/2.  The IRS documents clearly state that there is NO age limit for IRA contributions for tax year 2020.  What's up???

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1 Replies
Level 15
Mar 15, 2021 6:00:58 AM

Ignore an help text that still indicates that those over age 70½ cannot contribute to an IRA.  Enter the contribution anyway and TurboTax will not treat it as an age-based excess contribution.

 

Also make sure that you have installed the latest TurboTax update.