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Old 02-19-2021, 08:43 AM
 
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I know that I can make an IRA contribution by April 15 and have it apply to my 2020 taxes. Can I make a withdrawal by April 15 and have it apply to 2020 taxes? Just trying to nail down some specifics ahead of filing. Thanks
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Old 02-19-2021, 09:13 AM
 
Location: Raleigh, NC
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Quote:
Originally Posted by wesraft View Post
I know that I can make an IRA contribution by April 15 and have it apply to my 2020 taxes. Can I make a withdrawal by April 15 and have it apply to 2020 taxes? Just trying to nail down some specifics ahead of filing. Thanks
No. Withdrawals are calendar year.
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Old 02-19-2021, 10:12 AM
 
Location: OH>IL>CO>CT
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It would appear that there is a process to withdraw a 2020 contribution before filing by April 15 2021.

(there is also a process for after April 15, within 6 months, by doing an amended return citing a "section 301.9100-2"

See https://www.irs.gov/publications/p59...link1000230703

(this link is for 2019 version as the 2020 version has not been released yet ! )

Suggest you call your IRA custodian, and see if they understand the process.
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