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January 23, 2021
Question

Contribution to IRA

  • January 23, 2021
  • 1 reply
  • 0 views

I contributed 2000.00 to my traditional IRA. It tells me that it cannot be used because my earned income is Zero because I did not get W-2s this year but 1099-R that show my wages. Under the tab of wages and salaries on Turbo Tax Zero is shown. Under Pension Plans where 1099-R my income is shown there. What can be done so that my contribution to my IRA can be credited

1 reply

VolvoGirl
Employee
January 23, 2021

Sorry a 1099R is not for wages but for retirement plan payments like from a pension.  Unless you retired on disability and have a 3 in box 7.

 

If you were paid wages you would get a W2.  Why are your wages on a 1099R?  Ask your employer.