☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 1, 2019 4:32:32 AM

I'm having issues with my Roth IRA and Traditional contributions, it is saying that I contributed too much but I'm filing with my spouse and don't exceed the 11,000?

0 1 199
1 Best answer
Level 15
Jun 1, 2019 4:32:40 AM

IRAs are accounts that belong to an individual.  The $5,500 limit is limit for the contributions made to each individual's IRAs.  In other words, you cam make IRA contributions totaling $5,500 to your IRAs and, separately, your spouse can make IRA contributions totaling $5,500 to your spouse's IRAs.  You cannot make contributions to your spouse's IRAs and your spouse cannot make contributions to your IRAs (although in some cases one spouse's income can be used to support the other spouse's contributions).

1 Replies
Level 15
Jun 1, 2019 4:32:40 AM

IRAs are accounts that belong to an individual.  The $5,500 limit is limit for the contributions made to each individual's IRAs.  In other words, you cam make IRA contributions totaling $5,500 to your IRAs and, separately, your spouse can make IRA contributions totaling $5,500 to your spouse's IRAs.  You cannot make contributions to your spouse's IRAs and your spouse cannot make contributions to your IRAs (although in some cases one spouse's income can be used to support the other spouse's contributions).