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Deductions & credits
@rrelick wrote:
I have no W-2s. Only 1099-NECs. Total after going through what you have suggested is $10,200.
Not sure what else to do.
Will probably do what TurboTax suggests which is to go with $6,500 into my Roth IRA and not worry about the $7,000 max.
Thanks
If you are using the online print all forms and worksheets and look at the "IRA Deduction Worksheet" line 1 for the allowable amount. The 1040 and schedules should show where that came from.
**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.**
March 4, 2021
7:36 AM