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dailin1947
New Member

According to the IRS, the new law removed the age limits for making traditional IRA contribution. But the turbo tax is not reflecting the change?

How can I enter my tradition IRA contribution on my turbo tax return?
2 Replies
macuser_22
Level 15

According to the IRS, the new law removed the age limits for making traditional IRA contribution. But the turbo tax is not reflecting the change?

If you have sufficient taxable compensation to contribute -

 

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

**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.**
ColeenD3
Employee Tax Expert

According to the IRS, the new law removed the age limits for making traditional IRA contribution. But the turbo tax is not reflecting the change?

IRA contributions after age 70½

For 2020 and later, there is no age limit on making regular contributions to traditional or Roth IRAs. For 2019, if you're 70 ½ or older, you can't make a regular contribution to a traditional IRA.

 

Check all your entries. Making myself age 80, I just made an IRA contribution. Make sure you had enough taxable income to take advantage of the deduction.

 

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