Enter a Traditional IRA contribution
Complete the following steps to enter a Traditional IRA contribution.
- In theIRAscreen, select the code in theCovered by a retirement plan?field.
- Either enter the contribution amounts in theTraditional IRA Contributionfield, or select the code in theHave program compute IRA deductionfield.noteSelectingCode 1orCode 2in theHave program compute IRA deductionfield overrides amounts entered in theTraditional IRA contributionfield.
- The calculation of deductible and nondeductible contributions shows on the Traditional IRA Deduction Worksheet.noteIf the return includes Social Security income, the deductible and nondeductible contributions are calculated on Worksheet 2 For Social Security Recipients Who Contribute To An IRA. You can view the form in the SSW folder (Worksheet 2 tab) in Forms.
