topic Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019? in Retirement tax questions

Can I claim a $4,000.00 IRA contribution on my 2018 taxes because I renewed a Certificate of Deposit that will mature on April 15, 2019?

Triumph-Forever — Tue, 04 Jun 2019 22:58:05 GMT

Did you renew a CD that was already in your IRA?

Bsch4477 — Tue, 04 Jun 2019 22:58:06 GMT

Did you renew a CD that was already in your IRA?

If I do not renew the certificate I would not be required...

Triumph-Forever — Tue, 04 Jun 2019 22:58:08 GMT

If I do not renew the certificate I would not be required to pay a penalty!

If the CD is already IN your IRA, you can't claim anythin...

tygrtchr — Tue, 04 Jun 2019 22:58:09 GMT

If the CD is already IN your IRA, you can't claim anything because it's already in the IRA. If you are using the interest on a CD that is NOT in the IRA, you may make an IRA contribution for 2018 as long as you make the contribution before April 17. Make sure your financial institution knows that it is a 2018 contribution.