Can I make an IRA contribution for the prior tax year?

Absolutely! You can make a contribution to your IRA account(s) for the prior tax year up to April 10. Please consult IRS eligibility requirements and contribution limits first, and then follow the steps below to make your contribution. 

Please note that IRA contributions must be made with "earned" money – or money earned from formal jobs and odd jobs. Please be aware of contribution limits for IRA accounts so you do not exceed those limits. You can learn more about IRA contribution limits on the IRS website.

Using our website to make your contribution? Please follow the steps below:

  • Log into your Axos Invest Managed Portfolios account
  • Select the Funding option from the top menu 
  • Choose Transfer Funds
  • Click the bank account you’d like to use for your contribution
  • Click the IRA account you want to contribute to 
  • Click Deposit Funds 
  • Enter how much you'd like to contribute
  • Select your tax year (and double-check how much you already contributed!)
  • Click Review Deposit
  • Review the information and click Confirm Deposit 

Using our mobile app (iOS or Android) to make your contribution from the mobile app? Please follow the steps below:

  • Click the Funding tab on the boom of the screen
  • Click Transfer Funds
  • Select the bank account you’d like to use for your contribution
  • Select the “To” option (your preferred IRA for the contribution)
  • Select your preferred IRA
  • On the Select Tax Year screen, review your contributions and confirm a tax year for the contribution.
  • Enter contribution amount, click Review Deposit, and confirm the deposit.

Please note that you can only select the tax year for one-time deposits. Auto-deposit contributions are only for the current tax year and cannot be set to the previous year.

Deposits are typically reflected in your account within 1-3 business days. 

Axos Invest, Inc., and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

 

 

 

 

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