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Probably because you have 0 tax liability so the IRA contribution will not increase your refund amount.
Hi and thanks for the reply. I thought that the IRA deductability was based on income level. I didn't know that it was also dependent upon tax liability. Thanks again. Mike
you get no deduction.,
You should have the custodian recharacterize your IRA to become a Roth IRA. Before July 15.
Great forum! Not! Can't change my screen name OR delete my own messages. Terrible. Thanks for the non-support.
Thanks for the reply and the suggestion. Why no deduction though? Because I had no tax liability?
@jamesmac007 wrote:Great forum! Not! Can't change my screen name OR delete my own messages. Terrible. Thanks for the non-support.
You can have a Moderator change your profile screen name; i.e. the name that displays in this user forum. It does not change your User ID for your Intuit account; only changes what displays in public in this forum. To do so, post a request in the special thread at the link below which was set up for changing screen names, and a Moderator should see it and help you. It may or may not be this weekend.
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