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Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

 
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Accepted Solutions
dmertz
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Resolved in the comments (I think).

View solution in original post

8 Replies

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Are you entering contributions for more than $5,500?

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Yes but the roth maximum is 5500, it is including the traditional ira contributions too so its over 5500  18

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

What?  You can only contribute a total of 5,500 to both of them combined.   Sounds like you made an excess contribution.  @dmertz

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

roth max is $5500 combined total of roth and traditional ira can not exceed $18000

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Sorry, no, @VolvoGirl is correct.  You are perhaps confusing a 401 (k) and a traditional IRA.
dmertz
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  If you entered any of these amounts elsewhere, go back and remove those extraneous entries.

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

thank you
dmertz
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Resolved in the comments (I think).

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