Yes, but an IRA contribution must be made with an out of pocket contribution.
To make an IRA contribution, you must set up an account with a financial institution such as a bank, brokerage firm, or mutual fund company such as Fidelity or Vanguard.
When you
enter a contribution into TurboTax, the program will let you know if and how
much of the contribution is deductible-
you can then view the result on the refund meter.
You should make the above determination
before you purchase an IRA
To
report a Roth or Traditional IRA in TurboTax:
·
Type in ira contributions in the search box, top
right of your screen, hit the Enter key
· Click the jump to ira
contributions link in the search results.
·
Follow the onscreen instructions to enter
