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Retirement tax questions
To clarify we may need additional information to know your exact question. Some details about a traditional IRA are included here for you.
For 2022, 2021, 2020 and 2019, 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
- IRA Deduction Limits 2021 (and 2022)
The following link will provide instruction to enter your contribution in TurboTax. Then TurboTax will calculate the allowable deduction.
Please update here if you need further assistance and one of our tax experts will help.
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March 23, 2022
8:50 AM