Hello,

My question may seem convoluted.

My wife was given the opportunity to fund previous years in her pension plan (she is a school teacher and worked under a series of one year contracts for 3 years before being hired full-time - she did not participate in the pension plan at that time). Due to an inheritance, we received oil rights this year and received a rental check for $8700 dollars. Using nearly $7000 of that income, we funded my wife's pension plan.

My question is, can we deduct the $7000 on our income taxes and if so, how do we go about doing it? We are Washington State residents, so we don't have to worry about a state tax but I could really use the deduction to offset most of the oil rights income. Hopefully this makes sense. Thank you.