My wife had 10K in earned income, and 4K in net income from her business. When we try to record our 7K contribution (for each of us) to the Roth IRA, it says my spousal IRA amount was too much (by 4K). Am I wrong in thinking that Schedule C reported self employment income (reported on 1099) is part of income you can use to fund an IRA? Or is turbotax calculation of the limit incorrect?
