Can I still open an IRA and claim it on my 2020 taxes?

[DanaB27]

Yes, if you have taxable compensation then you can open a traditional IRA and might be able to deduct the contribution.

The deduction of the contribution to a traditional IRA may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see IRA deduction limits for details.

The total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:

• $6,000 ($7,000 if you're age 50 or older), or
• If less, your taxable compensation for the year