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Ted age 41 files single. He earned $52875 in wages and had no other income in...

Ted age 41 files single. He earned $52875 in wages and had no other income in 2017. On April 14 of 2018 he filed an automatic six- month extension to file his tax return three works later on May 5 he timely filed his 2017 tax return which statement best describes his eligibility to contribute to an ira on May 5
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ANSWER: Tax-filing extensions do not apply to your IRA contributions. This means that your contributions must be deposited by your tax filing due date, which is usually April 15. Because he did not make the contribution before the due date for the tax return, he is not eligible to make an IRA contribution for 2017..

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