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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?
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‎June 3, 2019
5:16 PM