IRA Contribution

Forum|Forum|1 year ago
February 13, 2025
1 reply
2 views

Hello,

Turbo Tax is not treating my IRA Deduction properly. I do have a retirement plan where I worked, but I only contributed $1359.41. My total income from wages is $39,036. It will show $560 as a deduction for 2024, and the balance of my contribution shows as non-deductible. This seems like a glitch to me.

Thank you

MayaD

Alumni - Intuit

Are you filing jointly? If yes, is your spouse covered by a retirement plan? Do you have any other income?

Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels.

Check the effect of modified AGI on deductible contributions if you are covered by a retirement plan at work: irs.gov

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