The limits are different depending on what type of plan you are contributing to. 401(k) and Profit-Sharing Plan Contribution LimitsFor 2019 and 2020, your total contributions to all of your traditional and Roth IRAs cannot be more than:$6,000 ($7,000 if you're age 50 or older), oryour taxable compensation for the year, if your compensation was less than this dollar limit.IRA Deduction if You ARE Covered by a Retirement Plan at Work - 2019IRA Deduction if You Are NOT Covered by a Retirement Plan at Work - 2019 (deduction is limited only if your spouse IS covered by a retirement plan)

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alazear

Level 1

Solved

The software is limiting my IRA deduction to 6500 though the limit is 18500

Forum|Forum|7 years ago
June 6, 2019
4 replies
0 views

No text available

TurboTax Deluxe Online

Best answer by DawnC0

The limits are different depending on what type of plan you are contributing to. 401(k) and Profit-Sharing Plan Contribution Limits

For 2019 and 2020, your total contributions to all of your traditional and Roth IRAs cannot be more than:

$6,000 ($7,000 if you're age 50 or older), or
your taxable compensation for the year, if your compensation was less than this dollar limit.
IRA Deduction if You ARE Covered by a Retirement Plan at Work - 2019
IRA Deduction if You Are NOT Covered by a Retirement Plan at Work - 2019 (deduction is limited only if your spouse IS covered by a retirement plan)

Irene2805

Level 15

Are you perhaps trying to enter information for a SEP-IRA?

macuser_22

Alumni - Champ

Employer plans are NOT IRA's and do not get entered in the IRA contribution section.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Irene2805

Level 15

That's why I asked my question -- to see if she was in the wrong place, since her contribution was way above the IRA allowable. I