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Level 1
March 17, 2021
Question

IRA Contribution Same Year as RMD

  • March 17, 2021
  • 1 reply
  • 8 views

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 reply

PhoebeRoberts
Intuit Community Champion
March 17, 2021

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.