It is deductible if you aren't covered by a retirement plan at work. IRA Contribution and Deduction Limits.
If you are covered by a retirement plan at work, be sure to indicate this in the IRA contribution section of TurboTax or by checking the box "retirement plan" under neat the area for Box 13.
OMG!
Are you serious?
And I could not get that answer sooner!
Well thank you from the bottom of my heart. And check book.
That turns into a nice little $3k credit if I choose deductible.
Or is there an upside to leaving it non-deductible in this situation?
It's up to you, pay the tax now or pay the tax later.
If you think your tax rate will go down, you'd most likely rather pay the tax on it later.
No. There's no harm in leaving this as a non-deductible contribution. What KrisD15 meant was you can choose to treat this as a non-deductible contribution now with after-tax dollars than to deduct the contribution made with pre-taxed dollars and then pay tax on it later.