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October 23, 2019
Question

If we contribute $5,500 to an IRA account that’s private and not through the employer, will that be tax deductible for 2018 and 2019 tax filings?

  • October 23, 2019
  • 1 reply
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1 reply

Hal_Al
Employee
October 23, 2019

Simple answer: yes. An IRA does not have to be employer sponsored to be eligible for the deduction.  Other rules must be met.

 

https://www.investopedia.com/ask/answers/081414/can-i-deduct-my-individual-retirement-account-ira-contribution-my-tax-return.asp