Julie wrote:

- quote -

I've read the replies which are correct, but I'd add "it
depends on the broker";

"If you want to make a 2005 IRA contribution, please mail
your check to:

Charles Schwab
PO Box 628291
Orlando, FL 32862-8291 for east coast residents and
PO Box 52114
Phoenix, AZ 85072-2114 for west coast residents
Please make sure to include 2005 I.R.A. contribution on the
front of your check and make sure your envelope is
postmarked by April 17th."

It appears from this quote that Schwab will credit the
deposit based on the postmark. This runs a bit counter
intuitive, so I guess the real answer becomes "check with
your broker". I'd also mention that 4/17 is a state holiday
in Massachusetts, so we have until 4/18 as our Tax day.

JOE

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"Julie" <jules2545[at]yahoo.com> wrote:

- quote -

it seems contributions to a tradional, roth, or education
ira must be made by the due date of the return, without
extensions

if it is a sep ira the deadline for making the contribution
is the deadline of the return, including filing extensions,
which could be as late as october 15th (or the next business
day if the 15th falls on a weekend) of the year following
the tax year for which the contribution is being made

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Julie wrote:

- quote -

Make sure your check is received and credited by the broker
by COB on the 17th.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

jules2545[at]yahoo.com (Julie) posted:

- quote -

The contribution must have been _made_ by April 17, 2006, in
order to qualify as a deductible for the 2005 tax year (per
Pub 590). I would recommend you consult your
broker/trustee, to see what their policy is on "crediting"
checks. Some won't do so until the check has been
"cleared."

"Constructive receipt" is defined differently by indidivual
banks, brokers, etc. -- and may also be dependent on the
relationship with the individual. (For example, my main
bank also has a Securities operation, where I have an
account -- and I am therefore qualified as a "Premier"
account holder, and extended some extra recognition ...
which _might_ include accepting a check from my checking
account as "paid" for purposes of adding to an IRA on a
given date.)

Bill

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I want to make the maximum contribution to my 2005 IRA. Am I
correct in thinking that Monday April 17th is the last day I
can contribute? And if so, will a check postmarked that day
suffice, or would the check have to be physically at the
brokers office on the 17th?

Thanks! (And yes, I will plan this better for 2006)

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >