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    • Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
    Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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    IRA Contribution Same Year as RMD

    Npierson7
    Level 1
    ‎03-17-2021 07:28 AM

    I have a client who has a $11,000 RMD from an inherited IRA. 1) Can he contribute to a separate traditional IRA the same year? 2) If so, can he deduct the IRA contribution?

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    1 Comment 1
    PhoebeRoberts
    Level 11
    Level 11
    ‎03-17-2021 08:47 AM

    The inherited IRA RMD has no special bearing on a client's ability to make a deductible IRA contribution. The normal rules for IRA eligibility and deductibility apply.





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