IRA contribution for deceased spouse?

[Possi]

Here's a new one for me. 

Client's wife died on Feb 2, 2020. Yes, two weeks ago. 

He just called with this question:

Does he still have until April 15 to contribute to her traditional IRA for 2019?

 

[jklcpa]

No, he can't do that even though they would have been eligible and able had it been done in 2019 prior to the wife's death.  Any contributions after death would be considered excess contribution, subject to the excess contribution penalty each year until removed from the account.

 

[Possi]

5 minutes ago, jklcpa said:

No, he can't do that even though they would have been eligible and able had it been done in 2019 prior to the wife's death.  Any contributions after death would be considered excess contribution, subject to the excess contribution penalty each year until removed from the account.

 

Thank you, Judy. I appreciate that. 

[Gail in Virginia]

Not a question I had ever considered.  Thanks for the info!

[schirallicpa]

i learn so much on this forum. 

 

[Abby Normal]

Judy is one of our best Tax Heroes!