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Adding my roth ira contribution it says that I earned too much to contribute. AGI is under $70,000 roth limits are well above $100,000, is this an error in the software?

 
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2 Replies
AnnetteB6
Employee Tax Expert

Adding my roth ira contribution it says that I earned too much to contribute. AGI is under $70,000 roth limits are well above $100,000, is this an error in the software?

Yes, this is a known issue that is being addressed.  Take a look at the following TurboTax help article and click the link to register your email address to be notified for updates.

 

Why is my Roth IRA MAGI not calculating correctly?
 

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dmertz
Level 15

Adding my roth ira contribution it says that I earned too much to contribute. AGI is under $70,000 roth limits are well above $100,000, is this an error in the software?

@smithlifeinwater , are you married filing separately?  If filing MFS, the amount that you are eligible to contribute to a Roth IRA phases out between $0 and $10,000.

 

@AnnetteB6 , I believe that the known issue you referenced results in a Roth-contribution MAGI being calculated too small, not too large, by TurboTax failing to include income from an inherited IRA in MAGI, so that issue probably does not apply in this case.  By calculating an MAGI that is too small, TurboTax permits Roth IRA contributions that should not be permitted.

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