Question

IRA contributions non-deductible, although I have NO retirement plan at work

Forum|Forum|1 year ago
March 8, 2025
1 reply
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I hope I haven't run into a glitch in TurboTax: my AGI is over 200 thousand, but I do NOT have a retirement plan at work, and according to everything I've read, I should be able to deduct my entire contribution (8k, as I'm over 55). However, my TurboTax is telling me that I may not take any deduction.

Is anyone else running into this?

M

MindyB

If you do not have a retirement plan at work, you should be able to deduct your IRA contribution in full. (Make sure you answer that no, you did not have retirement plan coverage when entering your IRA contribution in TurboTax). ‌

However, if you are married and your spouse has a retirement plan at work, you may not take the deduction if your modified AGI is over $240,000.

See: IRA deduction limits

M

mwaadamsAuthor

Thank you, Mindy, but for some reason TurboTax believes I'm covered by a pension at work. I am overseas, so do not receive a W2 (and have not entered one), so I'm not sure where TurboTax got this idea. And this is the first time after many years overseas and using TurboTax that this problem has arisen. I've tried going into the Forms and unticking the boxes, but the program won't allow it...

K

KeshaH

If you'd like, we can look at your return and see exactly what you see to help come to a resolution. The return will be scrubbed and won't include any of your personal details.

If you're using TurboTax Online:

Once you're logged in to your account,

- on the left hand panel, click on Tax Tools and then choose Tools

- on the pop up window, select Share my file with Agent

- you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information.

- click okay and you'll get another message with a token

If you're using TurboTax Desktop:

Click on Online in the top menu of TurboTax Desktop for Windows
Select 'Send Tax File to Agent'
Write down or send an image of your token number and state then place in this issue.
We can then review your exact scenario for a solution

Please reply to this message with your token so that we can further assist you. Let us know all other states, if any, that are included on the return.