IRA Contribution

[plmartin09]

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]

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