Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
N
nmortenson
March 25, 2021
Question

Simple IRA

  • March 25, 2021
  • 1 reply
  • 0 views

Does the law restrict contributions to a Simple IRA after age 72.  The program does not.

1 reply

WendyN2
WendyN2
March 29, 2021

IRA Contribution Limits for 2020

 

If you're 70 ½ or older, you can't make a regular contribution to a traditional IRA. However, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.     

 

Here is a link to some helpful information on retirement contributions from the IRS:

 

IRS - Retirement Contribution Limitations

 

    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification