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MAGI calculation for determining excess IRA roth contribution appears incorrect with turbo tax online
When using turbo tax premier online 2021, it looks like turbo tax is including Roth conversions in the calculation of MAGI for determining excess contributions to a roth IRA. According to the IRS publication 590-A(2021), the MAGI for determining the allowed roth income contribution should exclude Roth conversions. Has anyone else run into this? Is there a way around this or is this a bug in the software?
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‎February 19, 2022
5:38 AM