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From: ask@cbrma.UUCP (A.S.Kamlet)
Newsgroups: net.taxes
Subject: Re: 1986 IRA in 1987 query
Message-ID: <5206@cbrma.UUCP>
Date: Tue, 30-Sep-86 17:57:17 EDT
Article-I.D.: cbrma.5206
Posted: Tue Sep 30 17:57:17 1986
Date-Received: Fri, 3-Oct-86 07:27:08 EDT
References: <225@cblpe.UUCP>
Reply-To: ask@cbrma.UUCP (A.S.Kamlet(Art))
Distribution: na
Organization: AT&T Bell Laboratories
Lines: 13

In article <225@cblpe.UUCP> gmv@cblpe.UUCP (Mike Vrbanac) writes:
>I am in our company saving plan, withdraw yearly, get a check late February
>and put part of it in an IRA *for the previous tax year*.  So the question
>is: will I still be able to contribute to an IRA in March of 1987 and make
>it applicable to the 1986 tax year?  Should I play it safe and borrow some
>bucks and make the contribution in 1986?
>thanx,

Yup!  And the interest you pay in 1986 for those borrowed funds
are deductible on your '86 return.   (Interest paid in '87
won't be deductible.)
-- 
Art Kamlet   AT&T Bell Laboratories  Columbus  {cbosgd | ihnp4}!cbrma!ask