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The tax calculations used under "Traditional IRA and Roth IRA" are incorrect in the software. it incorrectly calculates joint income as individual limit. needs correction
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February 5, 2020
9:31 AM
This answer has been verified for accuracy by an Intuit expert employee
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Retirement tax questions
TurboTax does these calculations correctly. By law, on a joint tax return your eligibility to deduct a traditional IRA contribution or make a Roth IRA contribution is determined by your joint modified AGI.
February 5, 2020
10:17 AM
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Retirement tax questions
My joint AGI is within the IRS limit, but when I add traditional IRA contribution, it shows message that the income limit (for one person) is more than the IRS limits and shows joint AGI as the number which is incorrect.
February 5, 2020
12:09 PM
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Retirement tax questions
Make sure you entered the W2s and any other income under the right person. Or it might not be showing any income for that person.
February 5, 2020
12:13 PM
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Retirement tax questions
Yes....I had suspected the same and checked multiple times.. so still clueless why the software is showing these numbers
February 6, 2020
5:41 AM