Deductions & credits

Where do you see the contribution as taxable?

 

I assume that you have at least $12,000 of taxable compensation in order to make the contributions.

 

(Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax and any self employment plan contributions, but can include commissions, certain alimony and separate maintenance, and nontaxable combat pay ).

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**