topic If I am self employed not covered by a retirement plan, my MAGI is over 74K, I should be able to deduct my IRA contribution but don't see that option. where do I go? in Retirement tax questions

If I am self employed not covered by a retirement plan, my MAGI is over 74K, I should be able to deduct my IRA contribution but don't see that option. where do I go?

sedaghatfar — Mon, 21 Dec 2020 18:17:44 GMT

Re: If I am self employed not covered by a retirement plan, my MAGI is over 74K, I should be able to deduct my IRA contribution but don't see that option. where do I go?

sedaghatfar — Mon, 21 Dec 2020 18:27:15 GMT

Adding to SEP will make ineligible

Re: If I am self employed not covered by a retirement plan, my MAGI is over 74K, I should be able to deduct my IRA contribution but don't see that option. where do I go?

dmertz — Mon, 21 Dec 2020 19:33:44 GMT

A regular personal traditional IRA contribution is entered under Deductions & Credits -> Retirement and Investments -> Traditional and Roth IRA Contributions. If you make no entries indicating that you are covered by a workplace retirement plan, TurboTax will automatically treat the regular personal traditional IRA contribution as deductible unless you tell TurboTax to do otherwise.