Last year with higher numbers my Roth IRA contribu...
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dhchasenh
New Member

Last year with higher numbers my Roth IRA contributions did not trigger an excess contribution issue this year they did. Did something change in this area?

Last year I contributed $17k this year $11k. MAGI is about the same, $250K.
2 Replies
macuser_22
Level 15

Last year with higher numbers my Roth IRA contributions did not trigger an excess contribution issue this year they did. Did something change in this area?


@dhchasenh wrote:
Last year I contributed $17k this year $11k. MAGI is about the same, $250K.

In 2019 the maximum contribution  to an IRA was $6,000 ($7,000 of over age 50) - 2020 is the same.

 

You are probably confusing an employer or self-employed retirement plans with a IRA.  They are NOT Traditional or Roth  IRA's and do not get entered in the IRA contribution section.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
dhchasenh
New Member

Last year with higher numbers my Roth IRA contributions did not trigger an excess contribution issue this year they did. Did something change in this area?

You hit the nail on the head. I confused the IRA topic with Employer contributions. Thanks 

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