cwc@mhuxd.UUCP (Chip Christ) (02/26/84)
` I believe that one's IRA contribution for the tax year in which he/she is claiming a deduction must be made PRIOR TO FILING the return. Chip
steveg@hammer.UUCP (Steve Glaser) (03/04/84)
You can contribute to an IRA for tax year 1983 up until the time you would be required to file your 1983 taxes by - which for most of us is April 15, 1984. If you get an extention, or you run on a different tax year for some strange reason, the date would be differnt. It is perfectly legal to invest your tax refund in an IRA and deduct that IRA contribution on the 1040 that got you the refund. Only hitch is that if your refund doesn't show up in time, you will have to come up with the money for the IRA some other way or file an ammended return and pay penalties and interest. Also, you probably need to allow enough time for your IRA trustee to record the investment before the April 15th deadline. You might be able to use the "automatic filing extention" stuff to help out (say if the source of funds for your IRA contribution is delayed), but I'm not sure how much of that would work. Steve Glaser tektronix!steveg steveg.tek@rand-relay