https://ttlc.intuit.com/community/retirement/discussion/ira-contributions/01/151243#M11829 In 2015 I retired from Texas Teacher retirement system.&nbsp;&nbsp;I did not start drawing my pension until March of 2016.&nbsp;&nbsp;I had cashed in several years of service back in 1989.&nbsp;&nbsp;I bought back 8 yrs of service in Feb 2016 for about $41,000.&nbsp;&nbsp;When I with drew the money I paid Fed taxes on the amount.&nbsp;&nbsp;In 2016 when I bought back my years I paid for it with taxed money.&nbsp;&nbsp;Can I claim some of that money as a IRA contribution or some other deduction. Sat, 01 Jun 2019 08:08:03 GMT stc112211 2019-06-01T08:08:03Z https://ttlc.intuit.com/community/retirement/discussion/ira-contributions/01/151243#M11829 In 2015 I retired from Texas Teacher retirement system.&nbsp;&nbsp;I did not start drawing my pension until March of 2016.&nbsp;&nbsp;I had cashed in several years of service back in 1989.&nbsp;&nbsp;I bought back 8 yrs of service in Feb 2016 for about $41,000.&nbsp;&nbsp;When I with drew the money I paid Fed taxes on the amount.&nbsp;&nbsp;In 2016 when I bought back my years I paid for it with taxed money.&nbsp;&nbsp;Can I claim some of that money as a IRA contribution or some other deduction. Sat, 01 Jun 2019 08:08:03 GMT https://ttlc.intuit.com/community/retirement/discussion/ira-contributions/01/151243#M11829 stc112211 2019-06-01T08:08:03Z https://ttlc.intuit.com/community/retirement/discussion/you-cannot-deduct-the-amount-of-your-pension-buy-back-now/01/151247#M11830 <P>You cannot deduct the amount of your pension buy back now. But your pension administrator will keep track of this basis and when you start to draw your pension, some of it will be tax free.<BR /></P> Sat, 01 Jun 2019 08:08:05 GMT https://ttlc.intuit.com/community/retirement/discussion/you-cannot-deduct-the-amount-of-your-pension-buy-back-now/01/151247#M11830 MinhT 2019-06-01T08:08:05Z