topic Unemployed for 9 months in 2018. Received a severance package that that did not contribute to my previous 401k. How can I still contribute some money toward retirement? in Retirement tax questions

Unemployed for 9 months in 2018. Received a severance package that that did not contribute to my previous 401k. How can I still contribute some money toward retirement?

College-Dad3 — Sat, 01 Jun 2019 20:50:57 GMT

I was laid off 3-31-2018. How can I still contribute some money toward 2018 pre tax retirement?

You can fund a traditional IRA up until 4/15. The limits...

Ashby — Sat, 01 Jun 2019 20:50:58 GMT

You can fund a traditional IRA up until 4/15.

The limits for 2018 are $5,500, or $6,500 if you’re age 50 or older

Turbo Tax won't let me contribute to an IRA because it se...

College-Dad3 — Sat, 01 Jun 2019 20:51:00 GMT

Turbo Tax won't let me contribute to an IRA because it sees I did contributed to a 401k in 2018. Is there a special form to use?

I apologize, I did not put it together when you said "pre...

Ashby — Sat, 01 Jun 2019 20:51:01 GMT

I apologize, I did not put it together when you said "previous 401k" that you actively contributed in 2018. Unfortunately, if you are covered/contributed for one day in the year, you are treated as covered for the whole year.