Can I open an IRA for tax break

[lionsfootball1]

Where can I open it and what all do you have to do

[CherylW]

You can open an IRA account TODAY, that's it.

Call an investment firm, or maybe your bank to open it.

You can put up to $5,500 in it, but you need to establish the account first.

When you do that,

1.  Go to Deductions & Credits.  

2.  Go to Retirement and Investments.

3.  Click Start or Update by Traditional and Roth IRA Contributions.

4.  Follow the screens until you've put in your contribution.  You can put anything from 0 to $5,500 to see what effect it has on your taxes.

To check:

1.       Go to My Account. 

2.       Go to Tools. 

3.       Go to View Tax Summary. 

4.       Go to Preview my 1040.