Hi,
I cannot figure out why I am getting the "Your Roth Contribution Was Too High" error after filling out my wife and my Roth IRA 2022 contributions.
Info:
Me: $0 income (retired and 56yr old)
Wife: $3053.25 income (part-time work and 54yr old)
Trying to split Roth IRA contribution as follows:
Me Roth IRA: $1526.62 (income divided by 2) + $1000 (catch up) = $2526 Roth IRA contribution
Wife: Roth IRA: $1526.62 (income divided by 2) + $1000 (catch up) = $2526 Roth IRA contribution
TurboTax says that there is an excess contribution of $2000. Seems to not be recognizing the catch up amounts.
Is this a known issue? Or am I doing something incorrectly?
Thanks,
Don
