I need help.Thank you in advance! ahamit btu naer es ese references you relied u

Question

I need help.Thank you in advance!

ahamit btu naer es ese references you relied upon. Also, submit a tax file memorandum detailing the client information, issues, authorities relied on, and advice provided (in a business memo format) Research Problem 4. Sarah was contemplating making a contribution to her traditional IRA in 2016. She determined that she would contribute $5,000 in December 2016, but forgot about making the contribution until she was preparing her 2016 tax return in February 2017. Use the website of any well- known IRA provider (e.g, Fidelity, Vanguard, T. Rowe Price) to determine if Sarah can make a 2016 contribution to her IRA after the tax year has ended.

Explanation / Answer

HI SARAH

THE CONTRIBUTION REGARDING IRA CAN STILL BE MADE EVEN AFTER THE TAX YEAR HAS BEEN ENDED.BUT STILL IT SHOULD BE MADE BEFORE THE TAX FILING RETURN DATE.BECAUSE THEN ONLY FOR THAT YEAR DEDUCTION WILL BE ALLOWED TO YOU WHILE CLAIMING IT IN YOUR RETURN.THEREFORE IT IS ADVISABLE TO MAKE YOUR CONTRIBUTIONS BEFORE THE RETURN FILING DATE AND ACCORDINGLY VALIDATE SUCH CONTRIBUTIONS IN YOUR RETURN.

THANK YOU

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