DanaB27
Expert Alumni

Retirement tax questions

The easiest way is to enter a Roth IRA contribution and go through the interview until you get to the "Your Roth Contribution Was Too High" screen. There TurboTax will tell you how much you are allowed to contribute.  

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “IRA contributions” 
  3. Click on “Jump to IRA contributions"
  4. Select “Roth IRA
  5. Answer “No” to “Is This a Repayment of a Retirement Distribution
  6. Enter the Roth contribution amount $6,000
  7. Continue until "Your Roth Contribution Was Too High" screen (this screen only will come up if your MAGI is too high).

 

You can also check the "Roth IRA Contribution Limit Worksheet" in TurboTax to see what was calculated (but might have to pay before you can see it in TurboTax Online):

 

  1. Select Tax Tools on the left and then Print Center and choose the print center
  2. Select returns and choose to print just the tax return or to include all worksheets as well. 

 

Please see Worksheet 2-1. Modified Adjusted Gross Income for Roth IRA Purposes

and 2022 - Amount of Roth IRA Contributions You Can Make for 2022 for additional information.

 

For 2022 the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:

  • $6,000 ($7,000 if you're age 50 or older), or
  • If less, your taxable compensation for the year
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