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Can I claim a deduction for a traditional IRA contribution?

The issue is whether I was covered by a pension plan at work or not.  In 2018, I retired on 8/31.  Up to that point, I was covered at work.  Started drawing pension from that job 9/1.  Also started drawing pension from the USAF.  If I check I was covered, Turbo Tax says I cannot take a deduction for the ($6500 me and $6500 spouse) IRA contribution.  If I check the box that says I wasn't covered, TurboTax says I can.

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Level 15

Can I claim a deduction for a traditional IRA contribution?

If you were covered by a retirement plan for even one day during the tax year,that counts.

So you were covered in 2018, and then due to Income limitations you cannot take the deduction.

You can do a non-deductible IRA.

View solution in original post

1 Reply
Highlighted
Level 15

Can I claim a deduction for a traditional IRA contribution?

If you were covered by a retirement plan for even one day during the tax year,that counts.

So you were covered in 2018, and then due to Income limitations you cannot take the deduction.

You can do a non-deductible IRA.

View solution in original post