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Should ROTH IRA Computation Limit Worksheet block 7 wages and other income be the same as Schedule C Block 31?
I have earned income of: $6,941 (on Schedule C)
The ROTH IRA Computation Limit Worksheet shows my Earned Income as: $4,450 (Block 7)
For a difference of: $491.
When entering my 2016 Roth IRA Contributions ($2256 for me and $4,686 for my wife) Turbo Tax reports an overpayment because it is working on the ROTH IRA Computation Limit Worksheet instead of the $6,941 from Schedule C.
Why isn't the $6,450 from IRA Worksheet using the same $6,941 as Schedule C?
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‎June 4, 2019
3:51 PM