Does moving cash into IRA before filing raise an issue with the trustee? My attorney told me that it shouldn't be an issue but am curious about other people's experience. Thank you.
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I just opened an IRA with my income tax refund last week. Don't plan on filing until Oct. or Nov. though. Have not visited an attorney yet, but I've heard this is ok by most posters on this forum. -
A very few states require you wait some time period between the contribution and filing or the funds aren't exempt. Just check your state exemptions.
I know Az. and Vt. have some time restrictions and if memory serves, there are 1 or 2 others.
12-2740 - Self-directed accounts including IRAs and Keoghs as long as contributions were made more than 1 year before filing; other pensions.
33-1126 - ERISA-qualified benefits, if deposited more than 120 days before filing. IRAs & Roth IRAs.Comment
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