2018 IRA Contribution Deduction Reported but didn’t contribute $
Hello. Clients deducted their 2018 IRA contributions from their taxes, but due to recent flooding in the area, failed to bring me the $ to contribute to their IRA’s. Can they still contribute for 2018? Thanks.
Permalink Submitted by tomd37 on Mon, 2019-09-09 15:28
To the best of my knowledge 2018 IRA contributions closed on April 15, 2019. Was there flooding on or prior to that date? I am not aware of any exceptions to the normal policy, Let’s see what others respond. Tom D.
Permalink Submitted by David Mertz on Mon, 2019-09-09 16:03
The IRS extended the IRA contribution deadline to July 31, 2019 for those affected by a variety of disasters that occurred prior to April 15, 2019. We are well past the extended deadline now. https://www.irs.gov/newsroom/tax-relief-in-disaster-situations