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Level 1
posted Mar 19, 2020 9:00:06 AM

Turbotax Home/Business where to enter my IRA Contribution?

Hi!

 

I am working on my taxes and see that there is an entry place on both the business side and personal side for the IRA contributions.  Where do I enter this?  In both places?  If only in one place, how do I decide which place to enter it in, personal or business?  I am retired with my own business.   Thank you, Vicki

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3 Replies
Expert Alumni
Mar 19, 2020 10:00:06 AM

What kind of IRA is it?   Traditional and Roth IRAs are entered on the personal section.   

 

SEP, Koegh Plans, and SIMPLE contributions are entered in the business section.  

Level 1
Mar 19, 2020 11:41:22 AM

Traditional, so only on the personal side.  Thank you! 

Expert Alumni
Mar 19, 2020 12:25:04 PM

To post an IRA contribution to your personal return go to:

  1. Deductions & Credits
  2. I'll choose what I work on
  3. Scroll to Retirement & Investment
  4. Select Traditional and ROTH Contributions
  5. Enter your information