Yes, but it may not be a good idea. You can over-contribute up to $2000 without penalties. But you can’t claim any excess amounts as a deduction.
Also, if you are not careful and go over the $2000, you may be subject to a penalty of 1% per month for each month you are over the limit.
If you have TurboTax Live Assist & Review, here is how to talk to a Tax Expert: https://turbotax.community.intuit.ca/community/navigating-turbotax/help/i-m-using-turbotax-live-assi...
PalpatablePalpatine
Returning Member
greenpoptart
New Member
EdW
New Member
bretts99
Returning Member
ayolawal1
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.