Collecting RMDs but still working
I am 73 years old and taking required RMDs. However, I am self employed and still working full time. Can I still contribute to my IRA since I am working full time?
I am 73 years old and taking required RMDs. However, I am self employed and still working full time. Can I still contribute to my IRA since I am working full time?
Permalink Submitted by Alan - IRA critic on Tue, 2021-12-14 03:39
Yes. The age limit to contribute to a traditional IRA has been eliminated. You can contribute to either a TIRA or Roth IRA as long as you have earned income. However, if you make a deductible TIRA contribution, it will offset any QCDs you make dollar for dollar.