IRA Deduction with 401K Contributions

mrkenne
mrkenne Member Posts: 1 Newcomer
in Credits/Deductions

I contributed to both Traditional IRA and Self Employed 401K accounts for 2024. FreeTaxUSA factored in a deduction for both the IRA and 401K. After filing my 1040 I've received a notice from the IRS that you cannot take the IRA deduction if you've contributed to your 401K and MAGI is over a certain limit. IRS is now asking me to file Form 8606. Why isn't FreeTaxUSA calculating this correctly and how do I amend?

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