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Nondeductible IRA Contribution limit
I am entering a Backdoor Roth. I have entered info from my 1099R and the traditional nondeductible IRA contribution (same amount = $7,000). I do not have an employer sponsored retirement plan and am over 55. I keep getting a notice that the IRA worksheet is showing that my IRA nondeductible limit is $5,030. Any idea why?
March 22, 2024
3:11 PM