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Possible Turbotax mistake.
I contributed to a ROTH IRA in 2024. Turbotax Deluxe requested the contribution amount and calculated an increase in my tax refund. Turbotax created a short pop-up box with an explanation that the contribution increased my refund. That should not have happened. Only contributions to a Traditional IRA should reduce your taxable income thus increasing your tax refund, correct?
March 12, 2025
3:40 PM