EPISODE · Jul 10, 2020 · 13 MIN
IRA contributions made by July 15 count as 2019 tax deduction
from Tax & Current Accounting Topics
IRA contributions made by July 15 count as 2019 tax deduction https://www.irs.gov/newsroom/ira-cont... https://accountinginstruction.info The Internal Revenue Service today reminded people that contributions to traditional Individual Retirement Arrangements (IRAs) made by the postponed tax return due date of July 15, 2020, are deductible on a 2019 tax return. Taxpayers can file their 2019 tax return now and claim the deduction before the contribution is actually made. But the contribution must then be made by the July 15 due date of the return, not including extensions.
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IRA contributions made by July 15 count as 2019 tax deduction
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