Turned 70.5 in Jan. 2018. TT allows me to deduct IRA contributions on my 2017 filing. Advisor thinks i can't. I'm on the cusp for 2017 & 2018 since i'm 70.5 in Jan 2018. But TT says i can. And it makes a big difference in refund and amt owed. Can i or Can't i deduct the ira contribution for 2017's filing?
You'll need to sign in or create an account to connect with an expert.
As you are not yet 70 1/2 on the last day on 2017, you can still contribute to your Traditional IRA for tax year 2017. TurboTax is correct.
As you are not yet 70 1/2 on the last day on 2017, you can still contribute to your Traditional IRA for tax year 2017. TurboTax is correct.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ojmn
Returning Member
narkhsa1
New Member
glesieutre
Returning Member
msv1
Level 1
tocguy
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.