Can I apply a $3000.00 IRA to my 2019 tax return to change my taxes due?

jdemick1 · ‎February 9, 2020

There used to be an option to lower the taxable income by putting 3000.00 towards an IRA. Is that still available for 2019?

ColeenD3 · ‎February 9, 2020

Yes.

The annual contribution limit for traditional and Roth IRAs is $6,000. The amount you can deduct depends if you are covered by a plan through work and your income.

Please see this LINK for more information.

macuser_22 · ‎February 9, 2020

@jdemick1 wrote:
There used to be an option to lower the taxable income by putting 3000.00 towards an IRA. Is that still available for 2019?

You have until April 15 to contribute to a Traditional IRA for 2019. Be SURE to instruct the IRA custodian that your contribution is for *2019* or they will apply it to 2020 by default.

**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.**