Retirement tax questions

I guess I do not understand you question.   If you did not enter the contribution then how do you know that it is disallowed?   Where did you enter it that tells you than only $4,850 is allowed?

 

(The only way a Traditional IRA contribution would be disallowed would be if you did not have at least $7,000 of taxable compensation.)

 

You did not try to enter your 401(k) contribution as a IRA did you?  A 401(K) is NOT an IRA and is only entered in box 12 on yiur W-2 - nowhere else.

 

 

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

**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.**