topic 401k and IRA deduction in Deductions & credits

401k and IRA deduction

user17710928336 — Sat, 14 Feb 2026 18:16:51 GMT

Married, age 60, filing jointly - I have a 401k and our MAGI will be about $110k, well below the IRS limit of $126k for deducting IRA contributions. Why does the Turbotax software say our two $8k IRA contributions are NOT deductible?

Re: 401k and IRA deduction

ReneV4 — Sat, 14 Feb 2026 19:50:25 GMT

Because you are below the threshold, these are other possible causes for your contributions to not be deductible:

Check if the retirement plan box on your w-2s are checked. If this box is checked for both and it only applies to one, the software will apply stricter limits.

Also ensure you have entered all of your income, by completing all of your Wages & Income entries.

Lastly, ensure you did not indicate that you contributed to a SEP IRA or SIMPLE IRA elsewhere because the system may overlap those limits.

You can also view your Tax Summary to compare by doing the following:

Select Tax Tools, then Tools from the left side panel in TurboTax
Select View Tax Summary, which will show your AGI on line 3
You can also click on Preview my 1040 on the left side panel to view your 1040 in more detail

If the information above shows your AGI to be under the threshold, then the cause may be one of the reasons listed above.

Re: 401k and IRA deduction

user17710928336 — Sat, 14 Feb 2026 21:15:38 GMT

Thanks, but there are no options available under "Tax Tools." I am signed up for "Do It Yourself - Premium," but have not been prompted to pay yet. Are those Tools hidden until I pay??

Re: 401k and IRA deduction

user17710928336 — Sat, 14 Feb 2026 22:05:07 GMT

I figured it out. I had entered only the $8,000 in the box for contributions made in Q1, 2026. I had to also put the same amount in the "Total 2025 traditional IRA contributions" box. The software should have flagged that though as a not possible scenario.