My company started offering a retirement account in November. Prior to that, I was contributing to a traditional IRA. The TurboTax program won't deduct my IRA contribution for the year stating that it can't be deducted if your employer offers a retirement program, however, they did not have one when I was contributing. Any advice on how to fix this?
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If you are covered by a retirement plan at work (even for one month in the year), you are considered and covered. Unfortunately, this is how the tax code works.
As a covered individual, your IRA deduction may be limited or completely eliminated depending on your modified AGI in 2019.
Please read this IRS article for more information.
If you are covered by a retirement plan at work (even for one month in the year), you are considered and covered. Unfortunately, this is how the tax code works.
As a covered individual, your IRA deduction may be limited or completely eliminated depending on your modified AGI in 2019.
Please read this IRS article for more information.
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