55316

[#1]

The following diagnostic is generating: IRA contribution deduction is disallowed due to age. Problem: For 2024 this diagnostic appears even though nothing has been input for an IRA contribution. I think this diagnostic is appearing in error. Posted: 2/8/2025

[BobKamman]

Is there something flowing from a W-2? 

Since when is there an age restriction on IRA contributions for people who are still working?  (Am I in big trouble?)  

[Strongsilence-CPA]

I summarized the text. That is not complete.  (I don't know of a good way to copy a diagnostic into a comment.)

[Iraheta CPA]

It appears that this error is related to the date of birth. I opened an existing client return, previously filed with only basic information like W-2 wages, investment income, and itemized deductions and the diagnostic error was not present. However, once I modified the date of birth to indicate that the client is 70 1/2 years old, diagnostic reference #55316 appeared. Even after removing the W-2 information, the error persisted. I even created a new tax return, entered just the basic personal details, and as soon as I set the date of birth to reflect an age of 70 1/2, the error showed up on the otherwise blank return. This strongly suggests that it's a bug.

[BobKamman]

And you're paying how much for this software?  

Until 2020 or so, taxpayers who were RMD age were not allowed to contribute to an IRA.  Maybe that diagnostic popped back up when a new programmer wrote some code to bring it back.  

[Iraheta CPA]

This error message did not populate in the 2023 tax year software. My client has been over 70½ for several years, and this is the first year I'm seeing this diagnostic. It appears to be an issue unique to the 2024 tax year software.