- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Yes. However, only contributions to a traditional IRA can be deducted on your return. To enter contributions to a Traditional IRA in TurboTax, please follow these steps:
- Click on Federal Taxes > Deductions & Credits [In TT Self-Employed: Personal > Deductions & Credits > I'll choose what I work on].
- Scroll down to the Retirement and Investments section and click on the Start/Revisit box next to Traditional and Roth IRA Contributions.
- On the Traditional IRA and Roth IRA screen, mark the box for Traditional IRA and click Continue.
- On the screen, Did you Contribute to a Traditional IRA? click the Yes box.
- Click the appropriate box on Is This a Repayment of a Retirement Distribution?
- On the Tell Us How Much You Contributed screen, enter the amount of your contribution and click Continue.
- Continue through the screens, entering the requested information.
[Edited | 4/8/2020 | 10:50am PDT]
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎June 5, 2019
5:32 PM