These answers did not help. One said "Turbo Tax will calculate this for you." Thanks, but I need to see the table so I can plan for 2019.
You'll need to sign in or create an account to connect with an expert.
Only contributions to a traditional IRA can be deducted on your return. For 2018 the most that can be contributed to a traditional IRA is the smaller of:
In 2019, Traditional and Roth IRA contribution limits will go up by $500
to $6,000 in 2019. The age 50 catch up limit is fixed by law at $1,000 in all years.
Even though you are covered by a retirement plan, you can still contribute to a traditional IRA and get a deduction -- it just may be reduced.
If you are--
Single, and your modified adjusted gross income is:
Married filing joint return, and your modified adjusted gross income is:
Married filing separately*, and your modified adjusted gross income is:
[NOTE: There is no impact on Roth IRA contributions if you are
covered by an employer retirement plan. These contributions, however, are
not deductible on your return.]
For 2019, if you are covered by a retirement
plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is:
• More than $103,000 but less than $123,000 for a married couple filing a joint return or a qualifying widow(er),
• More than $64,000 but less than $74,000 for a single individual or head of household, or
• Less than $10,000 for a married individual filing a separate return. Modified AGI
To calculate your reduced IRA deduction, see page 15 of IRS Publication 590-A - Contributions to Individual Retirement Arrangements (IRAs)
For more details on IRAs, please see the following IRS Publications:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Grp123
New Member
TK2005
New Member
zzz8881
New Member
cnc213
New Member
hml4585
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.