@MichVan wrote:
$80,000
didnt think that mattered for a BackDoor Roth. Just thought limited to $7,000 at my age.
For 2023, the maximum IRA contribution is $6500, or $7500 if over age 50. However, you can only contribute up to the amount of compensation from working, even for a backdoor Roth conversion. If your compensation is less than $7500 or $6500 then your IRA contribution will be limited. Is $80,000 your total W-2 wages, or your income from self-employment? What is your net income from self-employment (after expenses)--that's how your IRA limit is set.
The only reason that I can think of that your contribution would be limited is if there is some problem with your income. Check your W-2 box 1 wages, and box 11 for non qualified retirement plans. Make sure you entered your W-2s correctly in Turbotax. You may want to try deleting your W-2s and re-entering them. Or if you didn't enter your income yet, go back and do that now.
You may need to call customer support to have someone do a screen share and look at your file to see where the limitation is coming from.
