There is no motivation to increase your IRA contributions like seeing how you’ll lose money, by paying additional taxes. if you don’t.

You can contribute to your IRA up until the date of filing your taxes for the previous tax year, e. g. when filing taxes for the 2023 financial year, you can still contribute to your IRA until April 15th, 2024 to reduce your taxable income for the 2023 financial year.

Don’t forget!