topic Full Deduction of Traditional IRA if you have No 401K or other Retirement Plan at workplace in Community Basics

Full Deduction of Traditional IRA if you have No 401K or other Retirement Plan at workplace

DAJ2500 — Fri, 27 Feb 2026 15:06:59 GMT

I was informed at IRS Website that if You ( and spouse if married) both have NO Retirement Plan like a 401K or 403b at your workplace -- that you are able to Fully DEDUCT a Traditional IRA for that year.

Is this true? Does Turbotax show you how to do this . ( I use On line version of Premium Turbotax)

Do they ask you this question about No having a Retirement plan at workplace on the Turbotax and then allow this Deduction? Thanks for your Help

Re: Full Deduction of Traditional IRA if you have No 401K or other Retirement Plan at workplace

DoninGA — Fri, 27 Feb 2026 15:09:38 GMT

For 2026, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than:

$7,500 ($8,600 if you’re age 50 or older), or
If less, your taxable compensation for the year

To enter, edit or delete an IRA contribution -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Retirement and Investments
On Traditional and Roth IRA Contributions, click the start or update button

Re: Full Deduction of Traditional IRA if you have No 401K or other Retirement Plan at workplace

DAJ2500 — Fri, 27 Feb 2026 15:42:30 GMT

Yes I Know where the IRA section is located on the On- Line Turbotax Premium---BUT do they On Turbotax ask this specific Question about NOT having a 401K or other Retirement Plan at your workplace and thus enabling you to Deduct the full Traditional IRA amount for the year.? Thanks.

Re: Full Deduction of Traditional IRA if you have No 401K or other Retirement Plan at workplace

DoninGA — Fri, 27 Feb 2026 16:00:22 GMT

@DAJ2500 Yes, there is a question in the IRA contribution interview asking if you are covered by a retirement plan at work.