I'm 70 1/2 and worked last year at a w2 job and had a 401k can I do an IRA catchup contribution for 2016

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I'm 70 1/2 and worked last year at a w2 job and had a 401k can I do an IRA catchup contribution for 2016

If you meet the income guidelines you can for a Roth.

For a Traditional IRA, once you reach the year in which you turn age 70 ½ you are no longer eligible to make a Traditional IRA contribution.

https://www.thebalance.com/minimum-and-maximum-age-limits-for-ira-contributions-2388696

to enter in TurboTax go to:

To enter IRA Contribution

Click on Federal Taxes (Personal using Home and Business)

Click on Deductions and Credits

Click on I'll choose what I work on (if shown)

Under Retirement and Investments

On Traditional and Roth IRA Contributions click on the start or update button

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I'm 70 1/2 and worked last year at a w2 job and had a 401k can I do an IRA catchup contribution for 2016

If you meet the income guidelines you can for a Roth.

For a Traditional IRA, once you reach the year in which you turn age 70 ½ you are no longer eligible to make a Traditional IRA contribution.

https://www.thebalance.com/minimum-and-maximum-age-limits-for-ira-contributions-2388696

to enter in TurboTax go to:

To enter IRA Contribution

Click on Federal Taxes (Personal using Home and Business)

Click on Deductions and Credits

Click on I'll choose what I work on (if shown)

Under Retirement and Investments

On Traditional and Roth IRA Contributions click on the start or update button

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