USA traditional IRA contribution at age 70

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Hello. I am 70 years old and can benefit on my income tax return this year if I open a traditional IRA account and contribute the $7500 maximum. (Most of my investments are in real estate.)

If I do that, what are the rules for withdrawing from that account, say, next year when I am 71. Can I withdraw all of it?

Thanks,
Rocky
 

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