How to figure the ira contribution amount for 2024?

[lsheets68137]

TurboTax had already filled in a dollar amount for my ira contribution for 2024. But, I'm not seeing how Turbotax got that amount. I have a 401k and a Roth IRA thru my employer. TY

[JohnB5677]

Lets double check your tax return

You can preview your tax return by going to:

1. On the menu bar on the left that shows.
2. Select Tax Tools
3. On the drop-down select Tools
   1. Tip: If you don't see the dropdown for Tools,
   2. Minimize the federal and state options using the down arrow.
4. On the popup menu
5. Select View Tax Summary
6. On the left sidebar
7. Select Preview my 1040.
8. Schedules 1,2 & 3 are included if you scroll down past your 1040.
9. To return to the entry screens press Back on the sidebar.

The IRA deduction is on Line 10 of your Form 1040

This comes from Schedule 1

If this is blank, there is no problem

If there is a number in line 10 you can view Schedule 1 by scrolling down from the 1040

Line 20 is the IRA deduction

If you did not make an IRA contribution, this should be blank.

If it is not

 Select Tax Tools

• You may have to minimize both the Federal and State options by clicking the Down Arrows on the Sidebar.
• You will then clearly see Tax Tools
• Click the arrow to up to see additional options

1. Once you can work on Tax Tools
2. On the drop-down select Tools
3. There will be 3 or 4 green boxes
4. Select Topics Search
5. Type IRA contribution
6. Follow the interview 
7. Make the contribution zero
8. Continue through the interview.