SteamTrain
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Retirement tax questions

Then....also, year-end distributions (mostly mutual funds) can sometimes unexpectedly send your AGI over the limits that allow to do a full ROTH IRA contribution  (happened to my brother one year)....and entering your ROTH contribution into the tax software, can help/notify you that you exceeded your contribution limit for 2023, and prompt you to remove some of those contribution $$.

 

Check to see if you are anywhere near those limits:

Amount of Roth IRA Contributions That You Can Make For 2023 | Internal Revenue Service (irs.gov)

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

View solution in original post