larryton1
New Member

Question about Self-Emplohyed deductions using maximum allowable contribution

I'm using Home & Bussiness version.  I'm a full-time employee while my wife is a full time realtor as self-employed.  We would like to maximum the allowable contribution.  When I was in bussiness section of retirement deductions and selected Maximum allowable, it tells me that my wife can contribute up to 41,872.  However, the amount was reduced to $34,872 when moving to personal section under Deductions&Credit.  So my guess is the total 41872 - 7000=34,872 my contribution to Roth (IRA)?   So which amount should my wife should contribue by the due date?  Please see the captured screen.  How it comes up with $41,872?

 

Thanks

 

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