You'll need to sign in or create an account to connect with an expert.
Yes, you can.
Your IRA contributions may or may not be deductible if you're in an employer-sponsored plan (the 401k). The deductibility will depend on your filing status, modified AGI, and (if married) whether your spouse is covered under an employer plan.
Here's a link to IRS Publication 590-A, which discusses these limitations (see the tables on p.13): https://www.irs.gov/pub/irs-pdf/p590a.pdf.
You'll enter any IRA contributions in TurboTax by selecting Federal Taxes > Deductions & Credits > Retirement and Investments > Traditional & Roth IRA Contributions and following the prompts.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ayubruin7777
Level 1
Sachin Kunagalli
New Member
erikaeriga
New Member
bethfly
New Member
helloTT102
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.