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New Member
posted Jun 4, 2019 6:45:08 PM

Can I contribute money to a traditional IRA if I have been taking out money from a traditional IRA?

Most of my "taxable income" for 2017 was from a traditional IRA.  I earned a few 1000 dollars and would like to know if I can contribute some of it to a traditional IRA.

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1 Best answer
New Member
Jun 4, 2019 6:45:09 PM

You can contribute to an IRA if you meet the following rules even if you took out distributions:

The annual contribution limit for 2017 and 2018 is $5,500, or $6,500 if you’re age 50 or older.  You cannot contribute to an IRA if you are 70 1/2 or older.

Limitations occur when you may want to deduct the contributions and you have a retirement plan through your job.

https://www.irs.gov/retirement-plans/2017-ira-deduction-limits-effect-of-modified-agi-on-deduction-i...


1 Replies
New Member
Jun 4, 2019 6:45:09 PM

You can contribute to an IRA if you meet the following rules even if you took out distributions:

The annual contribution limit for 2017 and 2018 is $5,500, or $6,500 if you’re age 50 or older.  You cannot contribute to an IRA if you are 70 1/2 or older.

Limitations occur when you may want to deduct the contributions and you have a retirement plan through your job.

https://www.irs.gov/retirement-plans/2017-ira-deduction-limits-effect-of-modified-agi-on-deduction-i...