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Deductions & credits
The “Tell us the value of all your traditional IRA accounts” screen during the contribution interview only comes up if you contributed more than the allowed amount. Make sure that you only entered the traditional IRA contribution (no Roth contribution) and that you didn’t contribute more than $6,000 ($7,000 if you're age 50 or older), or if less, your taxable compensation for the year.
The “Income Too High to Deduct an IRA Contribution” is fine. If you have a retirement plan at work and are over the income limit your traditional IRA contribution will be nondeductible automatically. You only get the warning and then a screen saying $0 is deductible. You can continue.
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April 14, 2022
4:01 AM