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Bug report: incorrect wizard guidance, calculation, and checking of IRA contributon
Married filing jointly, with AGI *several times* the federal limit for IRA contributions. Turbotax '24 desktop for Windows. I noticed I had not made IRA contributions and wizard encouraged me to do so. So I did. $14k worth. Turbotax applied the $14000 amount on Schedule 1 and 1040 line 10, then checked (100% Accurate!) and then filed the form, to state, and federal, saving me about $7k in owed taxes.
The forms were rejected by IRS for other reasons (Son had claimed himself). So I had a chance to fix this and re-file. I'm still out the $14k I sent over to the IRA's.
I have copies of the original and updated and can proivde to Intuit personnell if they'd like to look.
‎April 14, 2025
6:54 PM