Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
AV5779
New Member

Turbo Tax is insisting that the max contribution to a Roth IRA is $6000, but it should be $19,500. Help!

 
1 Best answer

Accepted Solutions
macuser_22
Level 15

Turbo Tax is insisting that the max contribution to a Roth IRA is $6000, but it should be $19,500. Help!

A 401(k) Roth is NOT an IRA and nothing gets entered in the IRA contribution section.  

 

Your employer should report the contribution in box 12 on your W-2 and nowhere else.

**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.**

View solution in original post

1 Reply
macuser_22
Level 15

Turbo Tax is insisting that the max contribution to a Roth IRA is $6000, but it should be $19,500. Help!

A 401(k) Roth is NOT an IRA and nothing gets entered in the IRA contribution section.  

 

Your employer should report the contribution in box 12 on your W-2 and nowhere else.

**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.**
Dynamic AdsDynamic Ads
Privacy Settings
v