I am retired, single and so not covered by any employer 401K program. I did some work for my Home Owner Association, and earned $720 for the year, reported to IRA by the HOA management company via a 1099-NEC form. I contributed the entire amount $720 to a traditional IRA, as I am doing ROTH conversion and my MAGA is higher than what's allowable with ROTH contribution. Turbotax determined that only $669 is deductible, and that $51 is excess contribution that I would need to withdraw.
I have 3 questions:
1. Why can't I deduct the full amount $720?
2. Why is $51 considered to be excess contribution that I would need to withdraw vs being considered only as non-deductible?
3. Does Turbotax offer some individual tax review service to look over my return before I file and answer any question I might have?
Thank you very much
HKC
