Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
A
AZgranny
July 14, 2020
Question

IRA contribution to reduce 2019 Federal tax owed

  • July 14, 2020
  • 1 reply
  • 0 views

How do I get the tax reduction from my Federal amount due if I am making the max $7000 contribution today before I e-file my returns?

1 reply

M
MinhT1
July 14, 2020

In TurboTax, you can enter IRA contributions by following these steps:

  • In TurboTax, open your tax return
  • Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
  • Scroll down to All Tax breaks, locate the section Retirement and Investments and click on Show more
  • Click Start next to 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"
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification