Are you referring to a deductible Traditional IRA contribution? Everyone is eligible to make contributions to a traditional IRA, but a tax deduction for those contributions may not always be available. You may need to reduce or entirely eliminate your IRA deduction if you or your spouse: contributes to an employer-sponsored retirement plan, such as a 401(k) or 403(b) has Modified Adjusted Gross Income (MAGI) that exceeds annual limitsIn TurboTax Online, traditional IRA contributions are reported under Deductions & Credits, then Retirement and Investments, then Traditional and Roth IRA Contributions.

TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

kathiterina

Question

I wanted to contribute an additional amount to my 401k to reduce my income but when I enter the additional amount it does not change my tax due

Forum|Forum|11 months ago
April 15, 2025
1 reply
0 views

No text available

JamesG1

Are you referring to a deductible Traditional IRA contribution?

Everyone is eligible to make contributions to a traditional IRA, but a tax deduction for those contributions may not always be available. You may need to reduce or entirely eliminate your IRA deduction if you or your spouse:

contributes to an employer-sponsored retirement plan, such as a 401(k) or 403(b)
has Modified Adjusted Gross Income (MAGI) that exceeds annual limits

In TurboTax Online, traditional IRA contributions are reported under Deductions & Credits, then Retirement and Investments, then Traditional and Roth IRA Contributions.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"