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kcour3933
New Member

Can I add $5,500.00 to my IRA by 4-17-18 and deduct now?

 
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1 Reply
PaulaM
Employee Tax Expert

Can I add $5,500.00 to my IRA by 4-17-18 and deduct now?

Yes assuming that you are otherwise qualified to make a traditional IRA, you can enter the contribution on your tax return as a deduction. As long as the contribution is made prior to the 4/17/18, you can claim the deduction.

Check the IRS link below for limits on IRA contributions if you or your spouse is covered by a retirement plan at work. Your deduction can be reduced/eliminated 

Contribution limits if you are covered by a retirement plan

Contribution limits if you are not covered by a retirement plan but your spouse is


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