tax1111 Posted May 17, 2021 Report Share Posted May 17, 2021 If a taxpayer is eligible for pretax IRA contribution, can he choose to treat the contribution as after tax instead? Or the contribution has to be pre tax first? Thank you! Quote Link to comment Share on other sites More sharing options...
Lion EA Posted May 17, 2021 Report Share Posted May 17, 2021 If he qualifies, he can make a pre-tax IRA contribution or after-tax IRA contribution or Roth IRA contribution through Monday 17 May 2021 for tax year 2020. He can do the same for tax year 2021 through next 15 April 2022. Quote Link to comment Share on other sites More sharing options...
tax1111 Posted May 17, 2021 Author Report Share Posted May 17, 2021 7 hours ago, Lion EA said: If he qualifies, he can make a pre-tax IRA contribution or after-tax IRA contribution or Roth IRA contribution through Monday 17 May 2021 for tax year 2020. He can do the same for tax year 2021 through next 15 April 2022. Thank you! very helpful! Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted May 17, 2021 Report Share Posted May 17, 2021 I don't think you can choose to not deduct a traditional IRA, nor do I think that would ever make any sense. Just do a Roth if you don't want a deduction. 2 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted May 17, 2021 Report Share Posted May 17, 2021 1 hour ago, Abby Normal said: I don't think you can choose to not deduct a traditional IRA, Yes it is possible. They can be used to make a "back door" Roth contribution when income is a limiting Roth factor. 4 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.