- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
I had earned income from a my business of $3145 (Officiate sports) and earned income from my part time job (teaching) of $3546. I would assume based on this I could put $6691 into my roth, however, even though I entered the $3145 into turbotax (Home and Business) - one not reported on 1099-NEC nor 1099-MISC ($1682) and the other on a 1099-NEC ($1463). Schedue C shows both entries, however, what is reported on the 1040 line 8 is only $1330 (this is net after expenses). Does this mean I can only add $1330 + $3546 to my roth?
May 11, 2021
8:07 AM