Traditional IRA

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  • spanel
    Senior Member
    • Oct 2008
    • 845
    #1

    Traditional IRA

    Any Reason A client could not do the following?

    Contribute $6000 to an Trad IRA on 4/10/19 for 2018
    Withdraw $6000 from same Trad IRA on 4/30/19

    I know they will have to pay taxes the w/d. They are 61, so no penalty.

    Thanks

    Chris
    Tags: None
    • kamckinley
      Senior Member
      • Apr 2008
      • 178
      #2
      As long as they have earned income and are eligible to contribute to an IRA I don't see why they couldn't do this. What's the purpose? Is their tax bracket much higher in 2018 than 2019?

        Comment

        • spanel
          Senior Member
          • Oct 2008
          • 845
          #3
          Need to lower 2018 income because of 1095A

          Chris

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