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New Member
posted Mar 20, 2020 12:32:59 AM

ITS ASKING ME FOR IRA ROTH CONTRIBUTION, EVEN IF I PAID ALREADY TAXES ON IT

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2 Replies
Expert Alumni
Mar 20, 2020 6:44:01 AM

The program asks for information about your Roth IRA contribution to make sure that you qualify to contribute to the Roth IRA.  If your income is too high, you may not qualify to contribute to a Roth IRA and may needs to remove any excess contributions so you do not incur a penalty for the over contribution.

 

Amount of Roth IRA Contributions That You Can Make For 2019

 

 

Expert Alumni
Mar 20, 2020 6:44:06 AM

The program asks for information about your Roth IRA contribution to make sure that you qualify to contribute to the Roth IRA.  If your income is too high, you may not qualify to contribute to a Roth IRA and may needs to remove any excess contributions so you do not incur a penalty for the over contribution.

 

Amount of Roth IRA Contributions That You Can Make For 2019