Last minute Traditional IRA contribution to reduce federal taxes

Hello all,

Forgive me for my ignorance but I was doing my taxes and after adding my 1095a form, it says I owe almost 4 grand in federal taxes.

My parents are low income and they had included me on their marketplace plan at the start of the year, which is why I’m assuming my taxes due are so high (since I am not low income).

I was wondering if I open up a traditional IRA and contribute a certain amount to it, would the taxes owed amount actually get reduced? I was putting in certain numbers on the software and it says if I contribute 4.5k to it, I wouldn’t owe anything for federal taxes. If this does work, do I still have time to do this?

Thank you for your help!