IRA Contribution Eligibility

[JWS1949]

I'm 73 years old, working part time and receiving Social Security Income.

When finishing up by taxes for  2022, Turbotax suggests that I can decrease my tax bill by contributing to an IRA.

I'm pretty sure I've read in IRS publications that I'm no longer eligible for a deductible IRA contribution because of my age.

Is Turbotax correct on this suggestion?

[DoninGA · Accepted solution]

For 2020 and later, there is no age limit on making regular contributions to traditional or Roth IRAs.

IRS website - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...

[JWS1949]

Excellent!  You just turned an "amount due" to a refund.  

Thanks so much for the quick reply and the link to the IRS.