- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Do you mean that you have a $1,513 outstanding debt to the IRS for past years, or is $1,513 the amount you owe on your 2022 tax return? Are you trying to make an IRA contribution in order to eliminate the amount that you owe for 2022?
The amount that you would have to contribute to an IRA in order to eliminate a $1,513 payment due depends on many factors. There's no simple way to calculate it. You can experiment by entering an IRA contribution in TurboTax, even though you haven't actually made a contribution yet. Then adjust the amount of the contribution up or down until you get the result that you want. This is basically what MichaelG81 is suggesting. Just make sure that before you file you set the IRA contribution to the amount that you will actually contribute, or delete the contribution if you are not going to make one.
See the following FAQ for instructions to view your Form 1040 in TurboTax Online.
How do I preview my TurboTax Online return before filing?
If you have further questions, please add a reply to this thread. Do not post another separate question about the same situation. When information is scattered in multiple threads it's confusing and hard to follow, and hard to see the whole picture.