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srimar1
New Member

Turbo Tax is stating "you do not qualify for a retirement tax break' and I do not understand why

 
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4 Replies
ThomasM125
Expert Alumni

Turbo Tax is stating "you do not qualify for a retirement tax break' and I do not understand why

That is probably referring to a state tax issue. We would need for you to clarify what state you are filing for to be more helpful.

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srimar1
New Member

Turbo Tax is stating "you do not qualify for a retirement tax break' and I do not understand why

Texas. I have googled until I’m dizzy. I’m also 71

Turbo Tax is stating "you do not qualify for a retirement tax break' and I do not understand why


@srimar1 wrote:

Texas. I have googled until I’m dizzy. I’m also 71


You must have compensation from earned income to be eligible to contribute to an IRA.

Do you have earned income in 2022 reported on a W-2 or from self-employment with net income?

srimar1
New Member

Turbo Tax is stating "you do not qualify for a retirement tax break' and I do not understand why

Absolutely- both. I have W2 income and 1099 income. Just baffled 

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