IRA Contribution

[RWM]

While doing my taxes, the program tells me that I can lower my taxes if I contribute money into an IRA however, when I say I'm going to maximize my IRA contribution it then tells me I will have a penalty for making an excess contribution.  I did not make any contribution in 2019 as I turned 70 1/2 in August of 2019.  Why does the program tell me I can make a contribution but then tell me it is an excess contribution?  Is it saying that if I had made the contribution before I turned 70 1/2 it wouldn't have been considered an excess contribution?  

[DianeC958]

No, the year you turn 70 1/2 you are no longer eligible to contribute to an IRA account.

You cannot contribute to a Traditional IRA once you turn 70 1/2.  It you did make a contribution to an IRA at this point it is considered and excess contribution.

You can contribute to a Roth IRA account for 2019 up to $7,000.  You need to have at least $7,000 of earned income (wages, commissions, business income) to make this contribution. You do not receive a deduction for the current year but this account grows tax free and when you take out the money the amount you contributed and the growth are tax free.

Link to Retirement Topics- IRA Contribution Limits

[Edited 02/28/20 9:49 am PST]