@raymondalessio wrote:
TT seems to be incorrectly calculating my MAGI and now I'm not eligible for a ROTH IRA contribution. How can I correct or override TT's calculation? The calculated MAGI is incorrect by the exact amount of my RMD actually withdrawn after taking into account a QCD. It seems to be adding the amount I withdrew in 2020 as an RMD less the QCD from my Traditional to my AGI. This additional MAGI puts me over the limit allowed to make a ROTH contribution. This is incorrect. How do I get around it?
A taxable Traditional IRA distribution should add to your MAGI. The QCD amount will not.
Did you take a RMD and roll back? If you did you must say that it was NOT a RMD because it was not - there were no RMD's in 2020.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
