Retirement Contribution

[bcoyne]

I was told I could contribute to my traditional IRA by April 15, 2026 to reduce my taxes. How do I do that?

[MaxA1 · Accepted solution]

To contribute to a Traditional IRA, you will need to open an account with a brokerage (like Fidelity or Vanguard) and contribute your funds (not to exceed the contribution limits for the year) to the account by the due date. For 2025, you can contribute up to $7,000 ($8,000 if age 50+), with a deadline of April 15, 2026. Your contributions may be tax-deductible depending on income and workplace plan coverage.

Here are some links that provide more information regarding IRA contributions and how to report this on your tax return:

• How to open a traditional IRA
• The Basics of a Traditional IRA
• Where do I enter my traditional or Roth IRA contributions?