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Retirement tax questions
The limits for traditional IRA contributions and Roth IRA contributions have always been the same as each other. In fact, the section of the tax code that establishes the limits for Roth IRA contributions simply references the section of the tax code that establishes the limits for traditional IRA contributions.
Make sure you are not trying to report contributions to an employer-provided retirement plan as IRA contributions. Enter amount shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.
March 3, 2023
2:49 PM