turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

e-t2014
New Member

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

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

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

View solution in original post

1 Reply

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

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies