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coburn89
Level 1

I filed an extention for tax year 2020. when i file my return before 10/15/2021, for year 2020, can i still contribute to my ira?

 
2 Replies
DoninGA
Level 15

I filed an extention for tax year 2020. when i file my return before 10/15/2021, for year 2020, can i still contribute to my ira?

If you are eligible to contribute to an IRA then is can only be for tax year 2021.  Contributions to a 2020 IRA had to be made on or before May 17, 2021.

coburn89
Level 1

I filed an extention for tax year 2020. when i file my return before 10/15/2021, for year 2020, can i still contribute to my ira?

ok. thanks. seems strange because how do you know the limit you can apply without your final return being done???..... but thank you!

 

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