can IRA contributions be bunched?

[feh]

Ever since we paid off our mortgage, we've had to take the standard deduction on our taxes, as our itemized total just doesn't add up to that much. Ever since then, we've tried to bunch deductions, so we can at least itemize every other year.

My question: can IRA deductions be bunched, or must they be applied to the calendar year for which they were "officially" taken?

Example - if we wait until after Dec 31 to contribute to our 2009 IRAs (because you can contribute up until tax day), and then we make our 2010 contributions during the 2010 calendar year, can we deduct both contributions on our 2010 taxes?

Thanks!

[MonkeyMama]

Nope, you can not bunch IRA contributions. They have to be reported in the year they are applied. Sorry!

[kanjoh]

That is correct, you can only deduct from the year in which the IRA contributions were reported. However, if you are looking to save more money in a given year, you should look into 401(k)s, health savings accounts, coverdell educational savings accounts, and similar programs.