Can I have $4141 in W-2, Box 12 (DD) and contribute $5500 to an individual IRA?

[DoninGA]

What is the amount in box 1 of the W-2?  Is box 13 for Retirement Plan checked?

[macuser_22]

Code DD is information only to inform you how much you health care cost your employer.

[AnnetteB · Accepted solution]

The best way to figure out if you are eligible to make a contribution to an IRA (Traditional or Roth) is to enter it into TurboTax and let the program tell you whether you can make the contribution.

Being eligible to contribute to an IRA is based on a number of things in your return, not just a single entry on your W-2. 

To enter a contribution as a test, go to the IRA section of your return and select the type of IRA you want to contribute to.  Enter your planned contribution amount and answer all of the follow-up questions.  TurboTax will give you information on the screen if you are not eligible to make the contribution.  Then, if needed, you can go back through the section to remove the contribution and continue with your return. 

Use the following steps to go to the IRA section of your return:

• On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)

• This opens a box where you can type in “IRA contributions” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)

• The search results will give you an option to “Jump to IRA contributions”

• Click on the blue “Jump to IRA contributions” link and enter your information