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Level 1
posted Jun 1, 2019 2:11:55 AM

When it asks what my total 2018 IRA contributions for 2018 were, do I include the pre-tax payroll deductions I made, or has TurboTax already taken that into account?

In previous years, TurboTax took all the W-2 data and simply told me how much more I could contribute to my IRA in order to increase my refund.  The section is different now.  Not sure if my payroll deductions have already been factored in on the "Tell Us How Much You Contributed" step.

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1 Best answer
Level 15
Jun 1, 2019 2:12:09 AM

The Retirement contributions made through payroll are already counted and entered when the W-2 is entered.

So do not enter these again.

Go to Federal Taxes

Deductions and Credits

I'll chose what I work on

scroll down to Retirements and Investments and then to subheading Traditional and Roth IRA's.

Enter the max allowed and then TurboTax will tell you if you can do it or not, and it will also show the impact on the tax return.

1 Replies
Level 15
Jun 1, 2019 2:12:09 AM

The Retirement contributions made through payroll are already counted and entered when the W-2 is entered.

So do not enter these again.

Go to Federal Taxes

Deductions and Credits

I'll chose what I work on

scroll down to Retirements and Investments and then to subheading Traditional and Roth IRA's.

Enter the max allowed and then TurboTax will tell you if you can do it or not, and it will also show the impact on the tax return.