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Level 1
June 5, 2019
Solved

Ira contributions

  • June 5, 2019
  • 1 reply
  • 4 views
Can I open an account right now through turbotax to help decrease what I owe on federal?
Best answer by MargaretL

No, you cannot open an IRA account through TurboTax. You can enter your contributions, but you cannot actually open an account and deposit the money. You can visit your local bank or a brokerage firm to open an IRA. If you open an account by the deadline of filing, which is April 18th, 2017 and deposit the money, you can enter your contributions. 

1 reply

MargaretL
MargaretLAnswer
Level 12
June 5, 2019

No, you cannot open an IRA account through TurboTax. You can enter your contributions, but you cannot actually open an account and deposit the money. You can visit your local bank or a brokerage firm to open an IRA. If you open an account by the deadline of filing, which is April 18th, 2017 and deposit the money, you can enter your contributions.