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Can my wife take an ira deduction for contribution made at her job? See is over 701/2 but I understand the deduction should be allowed.

turbotax program does not allow for this yet my accountant says it is deductible
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3 Replies

Can my wife take an ira deduction for contribution made at her job? See is over 701/2 but I understand the deduction should be allowed.

Are you sure it's an IRA, and not a 401(k)?

Can my wife take an ira deduction for contribution made at her job? See is over 701/2 but I understand the deduction should be allowed.

it is a 401k

Can my wife take an ira deduction for contribution made at her job? See is over 701/2 but I understand the deduction should be allowed.

You do not enter a 401K as a deduction.  It is not an IRA.  It is a 401K .  It comes out of her checks pretax meaning before taxes and has already been deducted from the wages in box 1.  And you can deduct them again.  You only enter it from the W2, nowhere else.  It is in box 12.

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