A handful of updates for 2020 IRA & 401k contribution and gift limits:
- For Traditional IRAs and Roth IRAs the 2020 contribution maximum remains the SAME in 2020 as in 2019: $6,000 (plus $1,000 to total $7,000 for those age 50 and over).
- REMEMBER!! IRA account contributions can be made all the way up until April 15th for the previous tax year.
- That means that you have until April 15, 2020 to make an IRA contribution for 2019.
