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I'm a retired DoD civilian annuitant widower aged 69. Can I reduce my 2016 federal tax liability by funding a Traditional IRA with Schwab for $6500.00 b4 Apr 18, 2017?

 
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I'm a retired DoD civilian annuitant widower aged 69. Can I reduce my 2016 federal tax liability by funding a Traditional IRA with Schwab for $6500.00 b4 Apr 18, 2017?

ROTH IRA contributions are not deductible and such a contribution would not affect the tax you owe at all.

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Alumni

I'm a retired DoD civilian annuitant widower aged 69. Can I reduce my 2016 federal tax liability by funding a Traditional IRA with Schwab for $6500.00 b4 Apr 18, 2017?

ROTH IRA contributions are not deductible and such a contribution would not affect the tax you owe at all.

View solution in original post