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huberc70
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I had just under $4000 in earned income for 2016. I am 73 years old and want to put the $4000 into my current retirement account why will TurboTax not allow me to do thi

 
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I had just under $4000 in earned income for 2016. I am 73 years old and want to put the $4000 into my current retirement account why will TurboTax not allow me to do thi

To contribute to a Traditional IRA, you must be under age 70½ at the end of the tax year. you, and/or your spouse if you file a joint return, must have earned income, such as wages, salaries, commissions, tips, bonuses, or net income from self-employment. Taxable alimony and separate maintenance payments received by an individual are treated as compensation for IRA purposes.

Earned income does not include earnings and profits from property, such as rental income, interest and dividend income, or any amount received as pension (including Social Security income) or annuity income, or as deferred compensation.

See https://www.irs.gov/taxtopics/tc451.html


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I had just under $4000 in earned income for 2016. I am 73 years old and want to put the $4000 into my current retirement account why will TurboTax not allow me to do thi

To contribute to a Traditional IRA, you must be under age 70½ at the end of the tax year. you, and/or your spouse if you file a joint return, must have earned income, such as wages, salaries, commissions, tips, bonuses, or net income from self-employment. Taxable alimony and separate maintenance payments received by an individual are treated as compensation for IRA purposes.

Earned income does not include earnings and profits from property, such as rental income, interest and dividend income, or any amount received as pension (including Social Security income) or annuity income, or as deferred compensation.

See https://www.irs.gov/taxtopics/tc451.html


I had just under $4000 in earned income for 2016. I am 73 years old and want to put the $4000 into my current retirement account why will TurboTax not allow me to do thi

So what was the nature of your income, and did you contribute to a Traditional or Roth IRA.?

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