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It's saying "You contributed $6,000 to a Roth, but your earned income was only $5,776." This is incorrect, my earned income is $6200! How to fix?

I have checked and refreshed repeatedly, and although my adjusted earned income is $6200 in the income section, when I get to the Roth contribution deduction, it says that it's $5776 and that I owe the penalty for over-contribution. This is wrong, and driving me crazy!
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1 Reply
dmertz
Level 15

It's saying "You contributed $6,000 to a Roth, but your earned income was only $5,776." This is incorrect, my earned income is $6200! How to fix?

Your net income available to contribute to a Roth IRA is your net profit minus the deductible portion of self-employment taxes.  Net profit of $6,215 minus the $439 deductible portion of self-employment taxes leaves $5,776 available to contribute to a Roth IRA.

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