Can I make an IRA contribution, under the new tax law, at any age?
02343
2 Replies
DoninGA
Level 15
Mar 29, 2020 4:31:47 PM
Nothing has changed for the age when you can no longer contribute to a Traditional IRA. The age remains at age 70 1/2 or younger.
For a Roth IRA anyone can contribute regardless of age.
dmertz
Level 15
Mar 29, 2020 5:04:43 PM
DoninGA's answer applies to 2019; you are not permitted to make a traditional IRA contribution for 2019 if you were age 70½ or over in 2019. The age restriction on traditional IRA contributions has been eliminated only for contributions made for 2020 and beyond.