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ambc
Level 2

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

 
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6 Replies

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

A Roth is NEVER deductible.  Perhaps you misunderstood the message.  Does it says you do not qualify to make the contribution?

 

Or that you do not qualify to deduct a Traditional IRA?

ambc
Level 2

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

Thank you for pointing that out, SweetieJean!  I guess I am just confused and can ignore this message from TT. I checked that I want to make a Roth IRA contribution and got the following message:

"Based on what you've entered you don't qualify for an IRA deduction."

 

It's confusing but I guess I will just proceed. Thanks again.

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

It sounds line you checked the Traditional IRA box and not the Roth box.  I suggest that you not not proceed until you uncheck all boxes and continue to remove and delete what you have entered and the re-enter it.

 

Screen Shot 2020-02-23 at 4.50.46 PM.jpg

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
ambc
Level 2

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

Thank you, Macuser_22 -- I tried redoing it all, but I will try again!

 

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

If that does not clear it then  there is probably an erroneous entry in the IRA Contribution Worksheet.   Delete that form and re-enter the contribution.

 

https://ttlc.intuit.com/community/accessing/help/how-do-i-view-and-delete-forms-in-turbotax-online/0...

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
ambc
Level 2

Why does TurboTax state "you don't qualify for an IRA deduction" for a Roth IRA. Why? I did it last year and there are no special circumstances

Will do-- thank you macuser_22!!

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