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Yes. If you haven’t already funded your retirement account for 2023, you have until the tax return filing due date to do so (April 15, 2024). That’s the deadline for contributions to a traditional IRA, deductible or not, and to a Roth IRA.
If you have a Solo 401k, Keogh or SEP and you get a filing extension to October 15, 2024, you can wait until then to put 2023 contributions into those accounts.
Making a deductible contribution will help you lower your tax bill this year.
Please see this TurboTax article for more information: Tax Tips After January 1, 2024
Of course, no one knows if you are actually eligible for contributing to a "deductible'" IRA.
That depends on other factors.
Remember that the tax deduction is NOT 1:1,
i.e, if your income for the year puts you in the 10% tax bracket, a $6000 contribution to an IRA would reduce your taxes due by only $600. If you are in a higher tax bracket, then more.
And if you only have access to a traditional 401k thru your W-2 employer, then it's too late to contribute more there.
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