Tax Year 2023, the IRS says people over 50 can contribute $7,500 to an IRA. We put $15,000 in an IRA today, but TurboTax is saying only $12,630 is deductable. Why?
The $15K was put into two separate IRA's, $7,500 in each one. We are filing Married, Jointly and both 64 years old.
