How do I submit my IRA deposit so that it’s associated with the tax year I intend?

You have until April 15, 2024 to make contributions to your IRA for tax year 2023.

When you make a one-time deposit to your Ellevest IRA, the platform will ask you to confirm which tax year you'd like the deposit to apply to (2023 or 2024). Please note that any recurring deposits for your IRA will automatically be allocated whatever tax year is current at the time.

For SEP IRA contributions, you don’t need to inform us which tax year the contribution is for. You’ll do that step on your own when you file your taxes. Here’s how it works: All SEP IRA contributions are coded in the year they’re received, regardless of the year you intend to put them toward. If you make a deposit in 2024 and want it to count for 2023, it’s up to you to report the contribution as a 2023 contribution when filing taxes.

The information provided is current as of the date of this writing and for informational purposes only. It should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment or tax advice. Please consult a tax advisor for any questions specific to your tax needs.