dmertz
Level 15

Retirement tax questions

TurboTax has already been updated to add back the excluded unemployment compensation when calculating the MAGI for a Roth IRA contribution.  After completing all other aspects of your tax return, enter a $7,000 Roth IRA contribution and TurboTax will tell you how much of that is excess.  Finally, go back and edit the original $7,000 entry to reduce it by the amount of the excess.

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