You may be able to reduce your taxable income by adding catch up funds to a Traditional IRA, and you have until April 17, 2018 to do so.
When you enter a contribution into TurboTax, the program will let you know if and how much of the contribution is deductible- you can then view the result on the refund meter.
You should make the above determination before you purchase or add to an IRA
To enter an IRA into TurboTax:
· Type in ira contributions in the search box, top right of your screen
· Hit the Enter key
· Click jump to ira contributions in the search results
· Follow the prompts and online instructions