The tax calculations used under "Traditional IRA and Roth IRA" are incorrect in the software. it incorrectly calculates joint income as individual limit. needs correction
04517
4 Replies
dmertz
Level 15
Feb 5, 2020 10:17:27 AM
TurboTax does these calculations correctly. By law, on a joint tax return your eligibility to deduct a traditional IRA contribution or make a Roth IRA contribution is determined by your joint modified AGI.
sd19
New Member
Feb 5, 2020 12:09:47 PM
My joint AGI is within the IRS limit, but when I add traditional IRA contribution, it shows message that the income limit (for one person) is more than the IRS limits and shows joint AGI as the number which is incorrect.
VolvoGirl
Level 15
Feb 5, 2020 12:13:10 PM
Make sure you entered the W2s and any other income under the right person. Or it might not be showing any income for that person.
sd19
New Member
Feb 6, 2020 5:41:58 AM
Yes....I had suspected the same and checked multiple times.. so still clueless why the software is showing these numbers