Tips for Last-Minute IRA Contributions. Money Not Math 127

Money Not Math

English - January 20, 2023 15:50 - 10 minutes - 9.16 MB - ★★★★★ - 1 rating
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Tips for Last-Minute IRA Contributions. Money Not Math 127

Considering making a last-minute 2022 IRA contribution? Here are some tips and key dates you should know.

When is the deadline?

Should you do a traditional or Roth contribution?

What is the maximum you can contribute?

Do you qualify to contribute to a Roth IRA or receive deductions from an IRA?

Are you able to use a backdoor Roth IRA? (non-deductible IRA contribution and then convert it to a Roth)

New IRA contributions limits in 2023: $6,500 if you’re under age 50 and $7,500 if you are age 50 or over.

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Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.