@tdattomo wrote:
Thanks for the response, but how to report is not an issue. They are following the law
I am trying to understand the calculation fo the maximum IRA in reference to a minister. I think it should be his wage, the excess housing allowance, plus the self-employment income for doing funerals and weddings.
Turbotax is only counting the excess housing allowance, but I am not sure why
What's on line 2 of schedule SE?
I agree with you in principle, except that the eligibility should be about 92% of schedule SE, to account for the employer half of social security and medicare.
It's possible TT is not calculating the eligibility correctly, TT has improved handling of clergy income over the years but it's not perfect. Also, there is a current bug that prevents Turbotax from recognizing graduate fellowships as compensation for IRA contributions, maybe this is connected.
If you have the desktop version, you might switch to forms mode and see if you can find an IRA eligibility worksheet where the numbers are being calculated. It seems like the Turbotax expert may be doing the same thing with your token number.
