IRA Contribution after 70 1/2

pasmith1 — Thu, 18 Mar 2021 14:19:46 GMT

Can an individual contribution to an 2020 IRA if they turned 70 1/2 in 2020? Have read that under the Secure Act 2020 the age limitation was repealed. Is this correct?

Re: IRA Contribution after 70 1/2

JohnB5677 — Thu, 18 Mar 2021 15:34:52 GMT

Yes, 2020 is the first year you can add money to a traditional IRA past the age of 70 1/2, thanks to the Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019.

You have up until April 15, 2021, to make your contributions to a traditional IRAs.

You can contribute to a Roth IRA at any age.

topic IRA Contribution after 70 1/2 in Deductions & credits

IRA Contribution after 70 1/2

Re: IRA Contribution after 70 1/2