Can I still contribute to traditional IRA after retirement for tax break?

[drdantru]

Can I still contribute to traditional IRA after retirement for tax break? Turbotax says I can contribute to IRA to reduce taxes. i'm retired but earning pension and not yet taking distributions from IRAs.

[macuser_22]

You have until April 15 to contribute to a Traditional IRA as long as you are under age 70 1/2 (that age limit goes away for 2020 and later but applies to 2019 contribution made in 2020) AND you have taxable compensation (money that you worked for).

Maximum contribution for 2019 is $6,000, or $7,000 if you’re age 50 or older by the end of the year; or
your taxable compensation for the year whichever is less.

(Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax, but can include commissions, alimony and separate maintenance, and nontaxable combat pay ).

See IRS Pub 590A "What is compensation" for details:
https://www.irs.gov/publications/p590a#en_US_2018_publink1000230355

See this IRS link for Traditional IRA deduction limits when covered by a retirement plan at work.

https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits