You'll need to sign in or create an account to connect with an expert.
Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels, see IRA Deduction Limits.
Does box 11 of the W-2 have the same amount as is in box 1? If so, it's income from a nonqualified deferred compensation plan and does not support an IRA contribution.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jyeh74
Level 3
katherine-sweetman
New Member
aravinth-venu
New Member
mrkeller3
New Member
rkoerfer
Level 1