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March 9, 2021
Question

IRA Contribution

  • March 9, 2021
  • 2 replies
  • 13 views

I am over 70 1/2 with a traditional IRA. Can I make a contribution before April 15, 2021 and get a deduction on my 2020 Taxes?

    2 replies

    ColeenD3
    Alumni - Intuit
    March 9, 2021

    Yes. You can record it now, but make sure you actually make the contribution. In addition, make sure you designate it for 2020.

    Alumni - Champ
    March 10, 2021

    But you must have 2020 earned income to do so.