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New Member
posted Jun 6, 2019 12:49:02 AM

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

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1 Replies
Expert Alumni
Jun 6, 2019 12:49:04 AM

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.