Can I still contribute to my 2016 retirement account and get a tax break because of it? And /or can I try to enter the info. into turbotax and remove it if I do not get a reduction in my taxes

[MichaelL1 · Accepted solution]

Yes, and yes.  You can still contribute to an IRA for the 2016 tax year until 4-18-2017.

You can enter it in the IRA contributions area to check first if you are elgiable, the amount you can contribute and also the tax impact.

If you change your mind, remove the deduction. 

To enter IRA Contribution

Click on Federal Taxes (Personal using Home and Business)

Click on Deductions and Credits

Click on I'll choose what I work on (if shown)

Under Retirement and Investments

On Traditional and Roth IRA Contributions click on the start or update button