If this is not an IRA (traditional or Roth) then do not enter the amount under IRA contributions under the Deduction & Credit section.
For your information, you can only contribute to an IRA if you have taxable compensation (wages, salary, self-employment). You will not be able to contribute to an IRA since you only have Social Security income. Anything that you contribute will be excess contribution.
The total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $6,000 ($7,000 if you're age 50 or older), or
- If less, your taxable compensation for the year (IRS)
If you contributed already to the IRA then to avoid the 6% tax on excess contributions, you must withdraw:
- the excess contributions from your IRA by the due date of your individual income tax return (including extensions); and
- any income earned on the excess contribution.
Request this with your IRA administrator.
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