Can i contribute to my ira if i now have to manditorily make annual withdrawals

lamurphy1946 · ‎June 4, 2019

ChristinaS · ‎June 4, 2019

Probably not. Did you turn 70 1/2 in 2016 or will you in 2017?

If you have mandatory withdrawals, that means you have a Traditional IRA and are 70 1/2. You can no longer make Traditional IRA contributions in the year you turn 70 1/2.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...

If you turn 70 1/2 in 2017, you can make a Traditional IRA contribution for 2016 (by 4/18) if you still have earned income/ compensation.

View solution in original post

ChristinaS · ‎June 4, 2019

Probably not. Did you turn 70 1/2 in 2016 or will you in 2017?

If you have mandatory withdrawals, that means you have a Traditional IRA and are 70 1/2. You can no longer make Traditional IRA contributions in the year you turn 70 1/2.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...

If you turn 70 1/2 in 2017, you can make a Traditional IRA contribution for 2016 (by 4/18) if you still have earned income/ compensation.

macuser_22 · ‎June 4, 2019

But there is no age limit to contribute to a Roth IRA.

**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.**

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Can i contribute to my ira if i now have to manditorily make annual withdrawals