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smmeyers
New Member

IRA deductibility error

The 2024 Premier program is allowing full deductibility for both my wife and I for a traditional IRA despite the fact that our MAGI is well above the limits for MFJ and one spouse with a retirement plan at work ($146k).  I think it is only considering my W-2 wages, but other income such as IRA distributions makes our MAGI well above the income limit for full deductability of a traditional IRA.  My finanical advisor tells me the we can't deduct.

 

This is the second time I have discovered errors in TurboTax so it will be my last year using the program.

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1 Reply
KeshaH
Expert Alumni

IRA deductibility error

Have you confirmed that the "Retirement plan" box on your W-2 is checked?

 

If so, we can look at your return and see exactly what you see to help come to a resolution. The return will be scrubbed and won't include any of your personal details.

 

If you're using TurboTax Online:

Once you're logged in to your account,

- on the left hand panel, click on Tax Tools and then choose Tools

- on the pop up window, select Share my file with Agent

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- click okay and you'll get another message with a token

 

If you're using TurboTax Desktop:

  • Click on Online in the top menu of TurboTax Desktop for Windows
  • Select 'Send Tax File to Agent'
  • Write down or send an image of your token number and state then place in this issue.
  • We can then review your exact scenario for a solution

 

Please reply to this message with your token so that we can further assist you. Let us know all other states that are included on the return.

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