For 2017, you can contribute up to
$5,500 of your earned income ($6,500 if over 50)
In the 15% tax bracket, a $5,500 Traditional IRA contribution would decrease your balance due roughly $825-, a $6,500 contribution-approximately $975
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 an IRA