https://ttlc.intuit.com/community/retirement/discussion/can-i-reduce-my-taxes-after-receiving-an-early-pension-distribution-in-dec-2018-by-purchasing-an-ira/01/438285#M40097 <P>i am retired.&nbsp; my wife took the entire early pension distribution to her savings acct.</P><P>1099-r show fed taxes withheld and no state taxes withheld.&nbsp; can an ira purchase reduce this years taxes?</P> Tue, 04 Jun 2019 22:11:58 GMT kauaikane 2019-06-04T22:11:58Z https://ttlc.intuit.com/community/retirement/discussion/can-i-reduce-my-taxes-after-receiving-an-early-pension-distribution-in-dec-2018-by-purchasing-an-ira/01/438285#M40097 <P>i am retired.&nbsp; my wife took the entire early pension distribution to her savings acct.</P><P>1099-r show fed taxes withheld and no state taxes withheld.&nbsp; can an ira purchase reduce this years taxes?</P> Tue, 04 Jun 2019 22:11:58 GMT https://ttlc.intuit.com/community/retirement/discussion/can-i-reduce-my-taxes-after-receiving-an-early-pension-distribution-in-dec-2018-by-purchasing-an-ira/01/438285#M40097 kauaikane 2019-06-04T22:11:58Z https://ttlc.intuit.com/community/retirement/discussion/an-ira-will-not-reduce-your-state-taxes-owed-but-if-you-q/01/438293#M40099 <P>An IRA will not reduce your state taxes owed but if you qualify for it, yes, you can purchase on before April 15th to reduce your federal taxes.</P><P>You should talk contact a financial services planner to determine how much you can and should contribute.&nbsp;&nbsp;</P> Tue, 04 Jun 2019 22:11:59 GMT https://ttlc.intuit.com/community/retirement/discussion/an-ira-will-not-reduce-your-state-taxes-owed-but-if-you-q/01/438293#M40099 Vanessa 2019-06-04T22:11:59Z