Is it o.k. to just add to a traditional IRA before April 15 to gain a tax benefit instead of starting a new IRA?

[dizathome]

Turbo Tax suggests that my wife start a traditional IRA before 4/15, but she already has an IRA.  I just want to know if contributing to her current traditional IRA instead of opening another one would have the same effect.

[MinhT · Accepted solution]

Yes, your wife can contribute to her existing IRA before April 15, 2019 to have the tax benefit of the IRA deduction.

[dizathome]

Thanks!  I thought this must be the case, but the Turbo Tax Premier specified that she must "start" a traditional IRA to benefit.  It is a slight error in wording as far as I can tell.  Thanks for confirming what I assumed must be the case.

[MinhT]

You're welcome!