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last date to put money in retirement for 2017

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  • last date to put money in retirement for 2017

    Due to a recent purchase I am having some delays in maximizing my retirement contribution for 2017 (and still trying to figure out what is my maximum contribution, but that's another story).

    Can I still put money away for retirement in 2018 (for example, in January, February or March) and have it count as retirement in 2017 (including having it counted as a pre tax contribution)?

     

    Thank you

  • #2
    You can contribute as an employer to your 401k for 2017 in 2018, up to the extended due date of filing your income tax return. If by "pre-tax contribution", you are talking about the employee contribution, the deadline is 12/31.

    If you have a SEP, you have until until the due date of your extended income tax return to contribute up to $54k.

    IRA contributions for the prior year are due by 4/15 (actually 4/17/18 for 2017).
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3



      You can contribute as an employer to your 401k for 2017 in 2018, up to the extended due date of filing your income tax return. If by “pre-tax contribution”, you are talking about the employee contribution, the deadline is 12/31.


      If you have a SEP, you have until until the due date of your extended income tax return to contribute up to $54k.


      IRA contributions for the prior year are due by 4/15 (actually 4/17/18 for 2017).


      Click to expand...



      I just started another post regarding this same question.  I guess I should do my research first.  


       


      So, to summarize:


      1. for solo-401k, the employer (S corporation) has until 4/17/2018 to fund this account.  The corporation does not need to fund by 12/31/2017


      2.  for backdoor roth IRA, again, it can by funded prior to 4/17/2018.


       


      correct?

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      • #4


        So, to summarize: 1. for solo-401k, the employer (S corporation) has until 4/17/2018 to fund this account.  The corporation does not need to fund by 12/31/2017 2.  for backdoor roth IRA, again, it can by funded prior to 4/17/2018.   correct?
        Click to expand...




        1. The employer has until the extended due date for the tax return to fund.

        2. The nondeductible TIRA contribution (step 1) of the backdoor Roth can be made up to the due date of filing the individual income tax return, not counting extensions. Step 2, the conversion of the TIRA to a Roth IRA, can be made at any time.

        Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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        • #5

          extended due date for the tax return = usually Oct 15

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