It says: If you (or your spouse) are covered by a retirement plan at work, and your modified adjusted gross income (AGI) is above a certain amount, then you can't deduct part or all of your contribution.
Under "learn more" it says, You can't deduct any of your contribution if your modified AGI is:
- $125,000 or more, and you're married filing jointly or a qualifying widow(er)
*The limits are higher if you are married filing jointly and you are not covered by a retirement plan at work, but your spouse is covered.*
I fit this criteria (not covered but spouse is) and MAGI is under the limit given for that category.
@pjwagners wrote:
It says: If you (or your spouse) are covered by a retirement plan at work, and your modified adjusted gross income (AGI) is above a certain amount, then you can't deduct part or all of your contribution.
Under "learn more" it says, You can't deduct any of your contribution if your modified AGI is:
- $125,000 or more, and you're married filing jointly or a qualifying widow(er)
*The limits are higher if you are married filing jointly and you are not covered by a retirement plan at work, but your spouse is covered.*
I fit this criteria (not covered but spouse is) and MAGI is under the limit given for that category.
Covered by a retirement plan at work is usually indicated by box 13 on your W-2.
Make sure the W-2 (s) were entered for the correct spouse.
Make sure that the IRA contribution is for the correct spouse.
Check your W-2 box 12 also.
TurboTax makes that determination if any of the following are true:
1) Box 13 (retirement plan) on your (or spouses) W-2 is checked,
2) Box 12 on your (or spouses) W-2 contains codes D, E, F, S, or AA/
3) You answered “yes” to the “Are you covered by a Retirement Plan at work” in the interview.
4) You have a self-employed retirement plan.
If none of those apply to you then delete the 1099-R's and delete the "IRA Worksheet" and re-enter.
