DanaB27
Expert Alumni

After you file

If you are referring to your 2022 traditional IRA contribution then you can select to make it deductible during the IRA contribution interview but only if your deduction isn't limited because you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please review IRA deduction limits for details.

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “IRA contributions” 
  3. Click on “Jump to IRA contributions"
  4. Select “traditional IRA
  5. Answer “No” to “Is This a Repayment of a Retirement Distribution?
  6. Enter the amount you contributed
  7. Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
  8. Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contribution before this tax year.
  9. Enter your basis in the Traditional IRA from your 2021 Form 8606 line 14 (if you had a basis in the prior year)
  10. On the “Choose Not to Deduct IRA Contributions” screen choose “No, I'll keep my deduction” (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning, and then a screen saying $0 is deductible).

 

For prior years if you weren't allowed to deduct the traditional IRA contributions because of income and retirement plan at work then you cannot select to make them deductible. If you didn't exceed the income limit and are allowed to deduct the traditional IRA contribution then you would have to amend the returns to select to make the traditional IRA contribution deductible.

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