CAN YOU MAKE ROTH IRA CONTRIBUTIONS FOR PREVIOUS YEARS?
As tax time comes around each year, clients often ask us, “can I still make an IRA/ Roth IRA contribution for last year?” The good news is if it is before the tax filing deadline (i.e., April 15, 2024 for the 2023 tax year), yes, you might be able to. Who can make a retroactive IRA or Roth IRA contribution? Roth IRA contribution eligibility is determined by your Modified Adjusted Gross Income (MAGI) and your age. Traditional IRA contribution eligibility…