Turbo Tax Question: Are you covered by a retirement plan at work? My question: What does "covered" mean? I am retired but still have a retirement plan through work. If I am retired (not "working"), do I answer "yes" or "no" to that question?
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covered means: the "retirement plan" box is checked on one or more of your 2017 W-2s.
If you are retired, you should find that the box is not checked, or you have no W-2s.
You may be seeing that in the IRA contribution section. You would answer 'no' to the question if you are not currently employed and covered by one of the plans listed below. This would be noted in box 13 of a W-2 form.
You're covered by another retirement plan at work if you have:
I may have inadvertently checked "yes" when I should have checked "no". Would like to correct. Can not seem to get back to that question to make correction. I have searched the topic, clicked on SEP IRA contributions but it does not get me back to that question. I have even switched from easy step-> forms itself and do not see the box. Please assist me to make this correction. Thank you!
Some issue here ... any responses or ideas ?
I deleted the IRA alltogether , and when i went thru again it appeared the option about the 401k at work
You should see the question about being covered by a retirement plan at work when you enter your traditional IRA contribution in TurboTax. If not, try deleting the entry and re-enter it.
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