When I got to review section for federal return, Turbo Tax said if I make a traditional IRA contribution for my husband, my refund would increase by quite a bit. I made the change to show I would make the contribution for 2018 but my refund amount did not change. He is 60, has a pension plan and thrift savings plan but did not max out his contribution. Can I really make an IRA contribution or not? If so why did it say I could and then not update my refund amount?
Your traditional IRA contributions may be tax-deductible. But the deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see the limits below:
Your traditional IRA contributions may be tax-deductible. But the deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see the limits below: