Get your taxes done using TurboTax

I'm not sure if you know about this, but this is for 2022. We have until Oct to both file and contribute to IRA due to an automatic extension. Does that matter?

 

Also, I'm worried that I may have made a mistake or something in reporting the sale of the rental house. It was a bit confusing, but I though I did it right, and TT even mentioned that I had reported it sold, but it seemed like there was some mixup with the sale of the house and sale of business assets. I think I originally got it wrong, and did my best to correct it, but I'm not overly confident that I did it right. I had hoped the app would have better guidance for this, but I did a bit of research and thought I had it right.

 

EDIT: I think the information I read must have been referring to the capital gains for qualifying to contribute rather than disqualifying. Apparently, they are all counted for the income limit. So, I can't contribute to a Roth at all, and can't deduct a standard IRA this year. But I can consider a back-door IRA, although it's a bit too much trouble in my case, I think.

 

The reason I'm worried is TT is telling me I will have to pay $180/year until it's fixed. But my research leads me to believe that the sale of the rental home should have no effect on qualification for a Roth IRA. Perhaps I need to seek professional advice, which I've never done, mainly because my records are not that great due to being far away from the house, and having a lot of work done by remote payments of various types.