- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why does turbo tax tell me combined maximum ira and roth contribution is $5500?
Topics:
June 5, 2019
3:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Yes but the roth maximum is 5500, it is including the traditional ira contributions too so its over 5500 18
June 5, 2019
3:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
What? You can only contribute a total of 5,500 to both of them combined. Sounds like you made an excess contribution. @dmertz
June 5, 2019
3:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
roth max is $5500 combined total of roth and traditional ira can not exceed $18000
June 5, 2019
3:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Sorry, no, @VolvoGirl is correct. You are perhaps confusing a 401 (k) and a traditional IRA.
June 5, 2019
3:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. If you entered any of these amounts elsewhere, go back and remove those extraneous entries.
June 5, 2019
3:19 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content