Can I set up IRA in 2017 and claim on 2016?

jasonmarble0407 — Sat, 01 Jun 2019 06:48:45 GMT

If I don't set up a Traditional IRA until 2017(but before April) , can I still claim on my 2016 tax year?

Yes, you have until April 15th, 2017 to claim a 2016 IRA...

KenH1 — Sat, 01 Jun 2019 06:48:47 GMT

Yes, you have until April 15th, 2017 to claim a 2016 IRA contribution.

To claim it in TurboTax:

Select Federal Taxes in the top menu

Select Deductions and Credits just below the top menu

Scroll down to Retirement and Investments and select Show More

Select Start next to Traditional and Roth IRA Contributions