Submitted By: someone
Answered: November 3, 2020 11:18 pm

Are there any age limits on contributing to a traditional IRA?

There are no longer any age limits on making contributions to traditional IRAs. The cap of age 70½ expired after 2019. This means that those of any age who continue to have earned income (or other income treated as earned income) can contribute to a traditional IRA for 2020 and later years. There was never any age cap on a Roth IRA.

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Tax Glossary

Modified ACRS (MACRS)

Depreciation methods applied to assets placed in service after 1986.

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