Rollover IRA 2014 contribution – not 70 and 1/2 until January 2015
I have earned income in 2014. I will not turn 70 and 1/2 until January 13, 2015. Can I make a contribution to my Rollover IRA on my 2014 tax return?
I have earned income in 2014. I will not turn 70 and 1/2 until January 13, 2015. Can I make a contribution to my Rollover IRA on my 2014 tax return?
Permalink Submitted by Alan - IRA critic on Mon, 2014-12-29 16:01
Yes, because you will not have reached 70.5 by the end of 2014. You can contribute for 2014 up to 4/15/2015. Starting for the 2015 tax year you will be limited to Roth IRA contributions if you have earned income, or to workplace retirement plan contributions.