topic Otherwise no deduction in Retirement tax questions

TT not permitting IRA contribution, stating I was covered by 401K. This is incorrect, as I received severance and was ineligible for 401K. How do I correct TT?

dd679 — Sat, 01 Jun 2019 07:33:51 GMT

The W-2 you got for the severance has Retirement marked....

MichaelL1 — Sat, 01 Jun 2019 07:33:53 GMT

The W-2 you got for the severance has Retirement marked. You need to see if the employer would give you a new one without it marked.

Otherwise no deduction

MichaelL1 — Sat, 01 Jun 2019 07:33:53 GMT

Otherwise no deduction

Thank you Michael. I was able to find and correct the er...

dd679 — Sat, 01 Jun 2019 07:33:54 GMT

Thank you Michael. I was able to find and correct the error. The W-2 my former employer sent me did not have the retirement plan box checked, so I unchecked the box in TT and the IRA deduction was applied. Thanks again.

Great news, I am going to post a very brief answer below...

MichaelL1 — Sat, 01 Jun 2019 07:33:55 GMT

Great news, I am going to post a very brief answer below just so others know this is taken care of.

Make sure the W-2 for the retirement is entered as you go...

MichaelL1 — Sat, 01 Jun 2019 07:33:57 GMT

Make sure the W-2 for the retirement is entered as you got it, and if the retirement box is not marked such as your case you are good to go.