TurboTax is telling me I can make tax deductible IRA contributions even though my AGI exceeds limits. I have current income which has no benefits included, but I do a couple of pensions from previous employers. Can I make contributions for 2023?
There is no income limit to contribute to a Traditional IRA, provided you do not have a retirement plan at work.
This chart will give you the 2023 IRA Deduction Limits - Effect of Modified AGI on Deduction if You Are Covered by a Retirement Plan at Work.
After you enter your Traditional IRA contribution in TurboTax, and continue the interview,
Please contact us again with any additional questions.
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