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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 14839
Experience:  15years with H & R Block. Divisional leader, Instructor
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I have a large non-refundable tax credit that is not

Customer Question

I have a large non-refundable tax credit for 2015 that is not refundable for adopting 3 children. Can I still make a withdraw now from my IRA and have it count towards my 2015 income in order to take advantage of this credit?
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.


While it is true that a taxpayer is given to April 2016 to make a contribution to an IRA and have it count as a 2015 contributions, withdrawals are not extended into the next year.

In other words, unless you make a withdrawal by Dec 31 of 2015 then you cannot count a distribution from your IRA as happening in 2015.

I hope you realize I am only telling you the rules and sincerely ***** ***** you hoped for was true.

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