DanaB27
Expert Alumni

Retirement tax questions

To confirm, you do not have an entry on line 20 of Schedule 1?

 

If you have no entry and entered the Traditional IRA contributions in the IRA contribution interview under Deduction & Credits then this means that the contributions were nondeductible. You should have seen a message during the IRA contribution interview that your contributions are nondeductible.

 

Your Traditional IRA deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see IRA deduction limits for details.

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