I opened an IRA in June 2020 and was allowed to make contributions toward the 2019 yr (I gave max $6000 for '19 & '20 each). Should I input both in my 2020 tax filing?

(The 2019 contributions were made after I already completed my 2019 tax filing in April last year, so they were not reflected there).

123

Expert Alumni

Feb 8, 2021 10:07:20 AM

No, you cannot deduct both years ($12,000) on your 2020 tax return.

If you did not claim the IRA deduction on your 2019 tax return, you'll need to amend it.