I was employed and received 90K salary less 30500 towards 401K. My wife reired in 2023 and has no wages.
i contributed 8000 towards IRA and for my wife another 8000 towards her IRA account. Turbo tax shows only 8000 as deduction in 2024 instead of 16000 allowed and this results in addl taxes doe for 1912. I paid 11316 and it calcalutes tax as 13200/-. I think the calulation is wrong in Turbotax for 2024.. I need someone to look into this and help me.
why am i given only 8000 credit for 2024 instead of 16000.
