Ask The Expert: Contributions

Q: If I contribute to an IRA before april 15 of 2013 can I deduct my contrbution on my 2012 taxes?
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Yes. That is one of the great things about a Traditional IRA. So long as your contribution is made before April 15, you can deduct the contribution from your previous year's taxes.

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Important IRA Information

Each year, the IRS updates the rules for Traditional IRAs. Here are all the details for 2015: