For 2024, the maximum deduction for a Traditional IRA is $7,000 plus a catch-up of $1,000 for individuals aged 50 or over. See this IRS document.
So TurboTax is correct.
The limit of 25% of income (limited to $69,000 plus a catch-up of $7,500 if aged 50 or over) is for solo 401(k) plan. See this IRS document.
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