making an IRA Contribution the year you turned age 70
I have a client who’s accountant is saying she can not contribute to her IRA because she turned age 70 in Oct of 2019. I was under the impression that as long as you are not age 70 1/2 at year end 2019 you could still make the contribution. My client made income in 2019. Am I correct?
Permalink Submitted by Jose Morales on Tue, 2020-03-31 22:50
As long as she did not attain the age of 70 1/2 in 2019, and she has earned income in 2019, she can make a contribution for tax year 2019.