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miamicuse
Level 2

IRA contribution for 2019 now

I am self employed.

 

I would like to put some additional funds now, in July 2020, to the IRA account for the tax year 2019.

If I were to transfer the funds now (to maximize tax benefits), how would I designate that particular transfer is for tax year 2019? I have already contributed some funds for tax year 2020.

 

Or does it not matter?  As long as I keep track of it myself?

posted
‎July 12, 2020 5:23 PM
last updated ‎July 12, 2020 5:23 PM
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fanfare
Level 15

IRA contribution for 2019 now

the custodian must know.

If you are doing it online , click 2019, or "prior year".

‎July 12, 2020 5:36 PM
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