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New Member
posted Apr 15, 2024 7:01:45 AM

Can I count Traditional IRA contributions from Jan 1, 2023-Dec 31, 2023 and Jan 1, 2024 - April 15, 2024, or just April 16, 2023-April 15, 2024 for the 2023 taxes?

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2 Best answers
Expert Alumni
Apr 15, 2024 7:08:18 AM

For 2023 taxes you can count contributions 1 Jan 2023 - 15 Apr 2024 that were not already included on a prior year tax return. 

Level 8
Apr 15, 2024 7:11:05 AM

IRA contributions are noted in the year they are made. An exception is that the IRS will allow you to make and take advantage of any made between  January 1 and the last filing date. For 2023 tax returns, that date is today, April 15. Any contributions made during this period must be assigned to either 2023 or 2024. After April 15, any contribution until 12/31 is for 2024.

3 Replies
Level 10
Apr 15, 2024 7:07:52 AM

@td_smartypants3d  when you make the contribution you must designate which year the amount paid was for.  You can contribute any time during the calendar year and then until tax filing due dates. So if you designated it 2023 contribution you can do 1/1/2023-4/15/2024.

Expert Alumni
Apr 15, 2024 7:08:18 AM

For 2023 taxes you can count contributions 1 Jan 2023 - 15 Apr 2024 that were not already included on a prior year tax return. 

Level 8
Apr 15, 2024 7:11:05 AM

IRA contributions are noted in the year they are made. An exception is that the IRS will allow you to make and take advantage of any made between  January 1 and the last filing date. For 2023 tax returns, that date is today, April 15. Any contributions made during this period must be assigned to either 2023 or 2024. After April 15, any contribution until 12/31 is for 2024.