when can I contribute to IRA 2012

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theghetto
Posts: 52
Joined: Fri Jul 29, 2011 12:31 pm

when can I contribute to IRA 2012

Post by theghetto » Thu Oct 27, 2011 4:01 pm

To be honest I didn't look *very* hard, but I did look and was not able to find the answer.

I've already maxed out my IRA contribution for 2011. Do I have to wait until the end of the tax year to put in my 2012 contribution, or can I do it January 1st?

Thank you

Abbey
Posts: 33
Joined: Wed Feb 24, 2010 4:18 am
Location: Texas

Re: when can I contribute to IRA 2012

Post by Abbey » Thu Oct 27, 2011 4:08 pm

"Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions." IRS Pub 590.

January 1, 2012
Abbey

AerialP
Posts: 148
Joined: Thu Apr 12, 2007 12:34 pm
Location: Central Kentucky

Re: when can I contribute to IRA 2012

Post by AerialP » Thu Oct 27, 2011 4:14 pm

The markets are closed January 1st for the New Years Day federal holiday, so the first day following that on which the markets are open. For 2012 it so happens that New Years Day is a Sunday, on which the markets are closed anyhow. I do not know if the observance of New Years Day will be on Monday, Jan 2nd 2012 but, if so, the first day you can contribute is always at least January 2nd, if not later to accommodate the holiday and/or the weekend.

theghetto
Posts: 52
Joined: Fri Jul 29, 2011 12:31 pm

Re: when can I contribute to IRA 2012

Post by theghetto » Thu Oct 27, 2011 4:38 pm

Much obliged.

Easy Rhino
Posts: 3266
Joined: Sun Aug 05, 2007 11:13 am
Location: San Diego

Re: when can I contribute to IRA 2012

Post by Easy Rhino » Thu Oct 27, 2011 5:28 pm

January 2 is a Federal Reserve holiday, so it might hard to make the contribution if a bank account is involved on either end. January 3 seems a safe bet.

Note that if you already had money at the same brokerage house (in, say, a taxable account), you might still be able to make a contribution on Jan 1.

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