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Does the 2018 deluxe version calculate how much money you can contribute to an IRA on a deductible basis?

 
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Does the 2018 deluxe version calculate how much money you can contribute to an IRA on a deductible basis?

If you enter all income and then enter an IRA contribution it will tell you if you contributed too much and if it is deductible or not. You can always go back and delete the contributions.

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.


See this IRS link for Traditional IRA deduction limits when covered by a retirement plan at work.

https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits

**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.**

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1 Reply

Does the 2018 deluxe version calculate how much money you can contribute to an IRA on a deductible basis?

If you enter all income and then enter an IRA contribution it will tell you if you contributed too much and if it is deductible or not. You can always go back and delete the contributions.

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.


See this IRS link for Traditional IRA deduction limits when covered by a retirement plan at work.

https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits

**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.**
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