d50dfb0a
New Member

Can I take the $6500 deduction for a traditional IRA contribution if no money was added to my SEP IRA during the year?

My employer set up a SEP but has not consistently contributed to it; 2017 additions were zero. TurboTax asks if I am covered by a SEP IRA and I check "Yes". No deduction is then allowed for a contribution to a traditional IRA. Do I check the "No" box instead?

MichaelDC
New Member

Retirement tax questions

Do you have W2 Box 13 Retirement plan checked?
d50dfb0a
New Member

Retirement tax questions

It is not checked.
MichaelDC
New Member

Retirement tax questions

Perfect. The answer still stands. Good Luck!
d50dfb0a
New Member

Retirement tax questions

Thank you very much.
MichaelDC
New Member

Retirement tax questions

Check "NO" You’re only covered by an employer retirement plan for a tax year if your employer (or your spouse’s employer) has a:

IRA-based plan (SEP, SARSEP or SIMPLE IRA plan) and you had an amount contributed to your IRA for the plan year that ends with or within the tax year

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