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Question

How do I get turbo tax to allow a deduction for my contribution to a traditional IRA. I am a phd student and Turbo tax is not allowing the deduction.

Forum|Forum|1 year ago
February 15, 2025
1 reply
0 views

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Employee

Do you have any income? You need earned income from W2 wages or a Net Profit on Schedule C for self employment income.

jdaleAuthor

I have taxable fellowship stipend income. Pub 590-a states that certain non tuition stipend payments not reported on W2 are treated as taxable compensation for this purpose. My stipend is taxable.

Employee

You are correct pub 590-A does state that taxable stipend income is allowed for the contribution. I was able to get the traditional IRA deduction. Follow these steps:

Open your return to the federal income section
Look under Less common Income
Select Miscellaneous, Income
Select other income not already reported on a W2
Other wages, YES, continue, continue, continue
Any other earned income, wages YES, continue
Select Other for Other income, continue
Enter stipend and amount, done

You can now go to the deductions section and enter your IRA.

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