JulieS
Expert Alumni

Deductions & credits

No, if your IRA contribution was listed on your W2, you can't take a deduction for it.

 

The reason is that any retirement contributions made by your employer on your behalf are taken "pretax". That means the amount contributed is not included in box 1 as taxable wages. If you deducted it again, that would be taking the IRA deduction twice on the same contribution. 

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