You'll need to sign in or create an account to connect with an expert.
Depending on your MAGI, your deduction might be limited or eliminated.
For 2019, $6,000, or $7,000 if you’re age 50 or older by the end of the year; or (Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax, but can include commissions, alimony and separate maintenance, and nontaxable combat pay ).
See this IRS link for Traditional IRA deduction limits when covered by a retirement plan at work.
https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
htb14
Returning Member
hynrel53
New Member
bethfly
New Member
turbobruce0524
New Member
helloTT102
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.