Free File Program saying Roth IRA contribution is too high

Forum|Forum|5 years ago
February 5, 2021
3 replies
45 views

I have put in my 1099-NEC income of $14,610, but it says I can't contribute anything to my Roth IRA because my income is 0.

TurboTax Online

Best answer by dmertz

Delete any previously entered Forms 1099-NEC, then enter the Forms 1099-NEC under Self-employment income and expenses (under the corresponding spouse's business if married filing jointly).

Do not enter Forms 1099-NEC under Other Common Income. Entering under Other Common Income doesn't work at all.

VolvoGirl

Level 15

Do you have a Net Profit on Schedule C after expenses? Did you get a Schedule C?

jusmccarAuthor

Level 2

Yes I have a net profit. No I do not have a Schedule C, what is that?

dmertzAnswer

Level 15

Delete any previously entered Forms 1099-NEC, then enter the Forms 1099-NEC under Self-employment income and expenses (under the corresponding spouse's business if married filing jointly).

Do not enter Forms 1099-NEC under Other Common Income. Entering under Other Common Income doesn't work at all.