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I am 71 retired have to take min distribution from an IRA, my wife is 70 still working have to take a min distribution this year,can we make any new deposits to IRA 2016

Even though we are required to take min distribution from our IRAs. can we add to it for last tax year?

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Poonam
New Member

I am 71 retired have to take min distribution from an IRA, my wife is 70 still working have to take a min distribution this year,can we make any new deposits to IRA 2016

Hello, 

You need to take RMD - required minimum distribution but your wife need not take RMDs. You cannot any more deposits to the IRA 2016.

Thanks.

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1 Reply
Poonam
New Member

I am 71 retired have to take min distribution from an IRA, my wife is 70 still working have to take a min distribution this year,can we make any new deposits to IRA 2016

Hello, 

You need to take RMD - required minimum distribution but your wife need not take RMDs. You cannot any more deposits to the IRA 2016.

Thanks.

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