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ira deduction

Kenny D
Level 1

I have a client who is not receiving the full $6,000 IRA deduction. It idicated his Modified Adjusted Gross Incomer is $105,951. His W2 and Spouse W2 only totaled $78,213. What is getting added back in to make the MAGI equal $105,951? He has 3 children and a grandparent as dependents. 

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2 Comments 2
qbteachmt
Level 15

You'll have to look around using the info only you can see. Examples:

https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-the-difference-between-agi-and-magi-on-y...

 

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/another-new-unemploymen...

 

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Just-Lisa-Now-
Level 15
Level 15

"What is getting added back in to make the MAGI equal $105,951?"

LOOK at the return.  Any professional preparer should be able to follow the money on a return to see where items come from and where they belong....if you cant do that, how can you tell if a return is complete and correct?


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