You may need to indicate material participation for this Schedule K-1 company. Return to the K-1 topic in TurboTax and review your entries.
- Click Edit/Update beside the type of K-1 you need to work on.
- Click Edit beside the company you wish to review.
- Follow the prompts to the page "Did You Participate?"
- When you answer "yes" to Material Participation, the income from Schedule K-1 will be treated as non-passive income.
- This should allow you to deduct IRA contributions.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
