@mrbud wrote:
IRA deduction worksheet:
Line 2: Spouse $0, Self: $29,436
Line 3: Spouse $7,000, Self: $7,000
You indicated that you are self-employed - do you have a self employed SEP or SIMPLE plan? Or other SE retirement plan?
The amount of deduction should be on line 16 of the worksheet. If 16 is less than line 4 then follow the line 5-15 calculations to find out why.
**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.**
