I owe taxes this year. Can I fund an IRA before 4/15 to reduce the amount?

[DanaB]

Yes, you may contribute to a traditional IRA for the tax year 2018 to reduce your taxable income before 4/15. Please be aware that the deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels.

• IRA Deduction if You ARE Covered by a Retirement Plan at Work - 2018
• IRA Deduction if You Are NOT Covered by a Retirement Plan at Work - 2018 (deduction is limited only if your spouse IS covered by a retirement plan)