cjk43105
New Member

Why if we put money into a ROTH IRA, do we all of a sudden pay more federal taxes? Is this a bug?

My wife and I put the maximum amount allowed into new ROTH IRA accounts. It doesn't make any sense that we end up owing money on our federal taxes. I was owing $0.00 and after entering the $6500.00 that was contributed to the ROTH IRA, I owed $390.00 on federal taxes.  Is this a bug?