turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019?

 
1 Best answer

Accepted Solutions

Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019?

If the CD is already IN your IRA, you can't claim anything because it's already in the IRA.  If you are using the interest on a CD that is NOT in the IRA, you may make an IRA contribution for 2018 as long as you make the contribution before April 17.  Make sure your financial institution knows that it is a 2018 contribution.

View solution in original post

3 Replies

Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019?

Did you renew a CD that was already in your IRA?

Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019?

If I do not renew the certificate I would not be required to pay a penalty!

Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019?

If the CD is already IN your IRA, you can't claim anything because it's already in the IRA.  If you are using the interest on a CD that is NOT in the IRA, you may make an IRA contribution for 2018 as long as you make the contribution before April 17.  Make sure your financial institution knows that it is a 2018 contribution.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v