https://ttlc.intuit.com/community/taxes/discussion/ira-deduction/01/3480843#M1287639 <P>Why is Turbo Tax only treating a portion of my IRA Contribution as deductible. My contribution amount is well within the annual limit.&nbsp; I contributed about $1300 to my 401K and my income from wages is about $39,000. The software is only treating $560 of my $2500 contribution as deductible.&nbsp; Is there a bug in the software?</P> Thu, 13 Feb 2025 17:52:08 GMT plmartin09 2025-02-13T17:52:08Z https://ttlc.intuit.com/community/taxes/discussion/ira-deduction/01/3480843#M1287639 <P>Why is Turbo Tax only treating a portion of my IRA Contribution as deductible. My contribution amount is well within the annual limit.&nbsp; I contributed about $1300 to my 401K and my income from wages is about $39,000. The software is only treating $560 of my $2500 contribution as deductible.&nbsp; Is there a bug in the software?</P> Thu, 13 Feb 2025 17:52:08 GMT https://ttlc.intuit.com/community/taxes/discussion/ira-deduction/01/3480843#M1287639 plmartin09 2025-02-13T17:52:08Z https://ttlc.intuit.com/community/taxes/discussion/re-ira-deduction/01/3480919#M1287667 <P>Your MAGI for the purpose of an IRA deduction takes into account all of your income, not just wages.&nbsp; The calculation of MAGI begins with AGI.</P> Thu, 13 Feb 2025 18:17:46 GMT https://ttlc.intuit.com/community/taxes/discussion/re-ira-deduction/01/3480919#M1287667 dmertz 2025-02-13T18:17:46Z