Let's say I made 7000 in 2024 as self-employed, not counting any interest earned. Turbotax seems to show this amount as both gross, net income. Then, when I enter that I contributed 7000 to my Roth in 2024, why would it say I contributed too much? It's reason seems to be that earned income was only 6505, but why? If I took 0 deductions, is it the earned income tax credit that's doing it? I don't understand how it's 6505, or how I'd know I can only contribute 6505, or what to do if all contributed dollars are already invested within the Roth?
Also, I initially wasn't going to mention contributions to Roth, because it was under deductions, which is a waste of time since it always says I should take the SALT. So what if I never filled out the Roth contribution info? I thought deductions are only optional, for my benefit, but now it seems not filling it out could lead to not realizing I made an excess contribution to my Roth? What would happen if I never filled out the Roth stuff?
Is there other important stuff in there I must fill out?
