MiJoMo01
Level 2
07-23-2020
01:49 PM
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If my client contributes to IRA after July 15 and before October 15?
Also, can the client make withdrawal from that IRA during 2021?
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Just-Lisa-Now-
Level 15
07-23-2020
02:01 PM
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Youre too late to make a 2019 IRA contribution, it needed to be done by July 15th
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
sjrcpa
Level 15
07-23-2020
02:08 PM
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Makng it now will be a 2020 contribution.
Ex-AllStar
qbteachmt
Level 15
07-23-2020
05:37 PM
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"can the client make withdrawal from that IRA during 2021?"
Typically, yes, depending on the account type, the age of the client, etc; and that might or might not be subject to tax + penalty, of course.
You really are not giving enough details.
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"Level Up" is a gaming function, not a real life function.