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fahimh11
New Member

I opened an IRA in June 2020 and was allowed to make contributions toward the 2019 yr (I gave max $6000 for '19 & '20 each). Should I input both in my 2020 tax filing?

(The 2019 contributions were made after I already completed my 2019 tax filing in April last year, so they were not reflected there).
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1 Reply
MinhT1
Expert Alumni

I opened an IRA in June 2020 and was allowed to make contributions toward the 2019 yr (I gave max $6000 for '19 & '20 each). Should I input both in my 2020 tax filing?

No, you cannot deduct both years ($12,000) on your 2020 tax return.

 

If you did not claim the IRA deduction on your 2019 tax return, you'll need to amend it.

 

 

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