What is the limit of compensation I can earn before my retirement contribution of $15,500 + 2% becomes uneligible as a deduction?

[julie6]

Searching: "What is the limit of compensation I can earn before my retirement contribution of $15,500 + 2% becomes ineligible as a deduction?"

Also, are these two parts treated the same or separately? In other words, after a certain amount of earnings, is it the total amount, or the $15,500 and/or the 2% contribution that becomes ineligible as a deduction?

[dmertz · Accepted solution]

You are confusing a SIMPLE IRA contribution with a regular personal IRA contribution.  SIMPLE IRA contributions are not to be entered under Deductions & Credits.  A self-employed retirement contribution is to be entered in the business section.  Type "self-employed retirement" in the search box (making sure to include the hyphen), then click on "Jump to self-employed retirement."