Can you open a new traditional IRA in 2022 and contribute as a tax deduction if employment ended July 1. 2021?

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Can you open a new traditional IRA in 2022 and contribute as a tax deduction if employment ended July 1. 2021?

Yes, as long as you have sufficient income. You have until April 15 of this year to open one.

Can you open a new traditional IRA in 2022 and contribute as a tax deduction if employment ended July 1. 2021?

However, your deduction may be limited if you were covered by a retirement plan at your workplace before you left.

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