I have a decent AGI. It's not above the threshold for my filing status. I have no spouse. I have no workplace retirement plan such as a SEP, SIMPLE or Keogh plan. I had the $5,500 I plan to contribute to my 2016 retirement NLT April 18, 2017 slated as a "Roth IRA," but if I've read IRS correctly, "Roth" IRAs are not deductible? If I instead contribute the $5,500 NLT April 18, 2017 as a "Traditional" IRA, TurboTax let's me deduct it. I just don't understand why $5,500 as a "Roth" IRA contribution cannot be deducted, but if contributed that same amount as a "Traditional" IRA contribution, TurboTax lets me deduct it.
