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lindawg
New Member

If my husband is receiving retirement income on a 1099R, can he also make a deductible IRA contribution? He is 59 1/2 and is still working, so has earned icome.

 
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If my husband is receiving retirement income on a 1099R, can he also make a deductible IRA contribution? He is 59 1/2 and is still working, so has earned icome.

Probably if your MAGI is not too high for a deductible contribution if he is covered by a retirement plan at work and has at least as much earned compensation as the contribution.

After entering all income,  enter the IRA contribution and TurboTax will tell you if it is allowed.

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.

**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

If my husband is receiving retirement income on a 1099R, can he also make a deductible IRA contribution? He is 59 1/2 and is still working, so has earned icome.

Probably if your MAGI is not too high for a deductible contribution if he is covered by a retirement plan at work and has at least as much earned compensation as the contribution.

After entering all income,  enter the IRA contribution and TurboTax will tell you if it is allowed.

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.

**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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