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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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IRA deduction
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Chet1
Level 2
03-21-2022
07:45 PM
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Does Proseries basic have a calculator to determine maximum traditional IRA deduction
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dascpa
Level 11
03-21-2022
07:58 PM
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No. But it's easy enough with the IRA worksheet. Enter $6,000 or $7,000 depending upon age and see if any is considered nondeductible. That will tell you the max deductible amount and you can change the input to that number if the taxpayer funds it. Similar for Roth. For the future, please use the "Where Do I enter" button on all screens to search for items like this. It'll save you a ton of time.
Just-Lisa-Now-
Level 15
03-21-2022
08:40 PM
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I use WDIE more than I use CTRL+F
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
