https://ttlc.intuit.com/community/retirement/discussion/i-haven-t-made-my-ira-contribution-yet-and-may-make-2016-and-2017-how-is-this-recorded/01/658781#M62699 Thu, 06 Jun 2019 09:22:52 GMT shatyl 2019-06-06T09:22:52Z https://ttlc.intuit.com/community/retirement/discussion/i-haven-t-made-my-ira-contribution-yet-and-may-make-2016-and-2017-how-is-this-recorded/01/658781#M62699 Thu, 06 Jun 2019 09:22:52 GMT https://ttlc.intuit.com/community/retirement/discussion/i-haven-t-made-my-ira-contribution-yet-and-may-make-2016-and-2017-how-is-this-recorded/01/658781#M62699 shatyl 2019-06-06T09:22:52Z https://ttlc.intuit.com/community/retirement/discussion/you-have-until-april-18th-2017-to-contribute-to-an-ira-a/01/658785#M62700 <P>You have until April 18th, 2017 to contribute to an IRA and claim the deduction for 2016, but you need to <B>tell the financial institution which year you are applying the contribution to.</B><BR /></P><P>In other words, contributions made between January 1, 2017 and April 18th, 2017 can be applied to <B>2016 or 2017, but only to one of the years.</B></P><P>You can take the deduction on your 2016 tax year return<B> even before you make the contribution</B>, but in order to avoid penalties and interest, you must not forget to make the contribution before "tax day" <B>(this year April 18th, 2017). </B>Tell the account trustee which year you are applying the contribution to so that the report they send to the IRS is accurate<B>. <BR /></B></P> Thu, 06 Jun 2019 09:22:53 GMT https://ttlc.intuit.com/community/retirement/discussion/you-have-until-april-18th-2017-to-contribute-to-an-ira-a/01/658785#M62700 KrisD 2019-06-06T09:22:53Z