topic Ira contribution deductible in Retirement tax questions

Ira contribution deductible

Decrocket — Thu, 06 Jun 2019 00:32:40 GMT

I've already made a $6500 contribution to a Roth IRA (in 2016). Does that mean I cannot now make an eligible IRA contribution before 4/18/17 ?

Yes, that i what it means. The limit, if over age 50, is...

macuser_22 — Thu, 06 Jun 2019 00:32:41 GMT

Yes, that i what it means. The limit, if over age 50, is $6,500 for the tax year. You can make a 2017 contribution, but not another 2016 contribution.