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Form 8880 Net Income or Gross Adjusted
I'm confused over what to put in. I have a W2 job and I'm also self employed (filing a schedule C). In addition, because of Covid I collected unemployment in 2020. I contributed the max $6k to my roth IRA. Altogether, my adjusted gross income was just over the limit of $32500 specified on form 8880. Without the unemployment income, I would be well under this limit. Also, just based on self employment income, I'd also be well under the limit.
However, I'm comparing Turbo tax to another popular online tax software that asks for my net self employed income when filling out the retirement contribution portion. At no stage does it ask for adjusted gross. So which one is it for my situation?
‎February 4, 2021
10:51 AM