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MAGI calculation for Roth Contributions
I own a second single family home that I rent out, from which I have passive rental income.
TurboTax calculated my MAGI in a Mod AGI worksheet that did not include this passive income, which I believe is correct.
However, when I look at the Roth IRA Contribution Limit Worksheet, TurboTax input my AGI as my MAGI on line 1. The AGI includes the passive rental income and therefore puts me over the max income limit to contribute to my Roth IRA.
Is this an error in the software? If so, how do I get TurboTax to use my correct MAGI for the Roth IRA Contribution worksheet?
‎February 7, 2023
10:01 AM