IRA Contribution and TT Product

Forum|Forum|1 year ago
January 14, 2025
1 reply
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Which product do I need to be able to deduct my IRA contribution for 2024 ($5000.00) . I have a simple tax return, standard deduction. Teacher so will need to deduction the expense deduction for that and student loan interest. No other deductions or income other than teacher salary. I think minimum TT Online - Deluxe.

AmyC

Employee

The Deluxe will handle many things. The IRA could be nondeductible, needing form 8606. It may create the saver's retirement credit for you. Everything I can think of from your synopsis will be handled by Deluxe. If you come across something else in your tax return, the program will notify you to upgrade. You click the button and continue on with your return. No need to be concerned about getting the right software. The program makes it easy.

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