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New Member
posted Apr 10, 2023 1:08:50 PM

Turbo Tax is saying that my Modified Adjusted Gross income is over the current Roth limit of $10,000. Isn't the actual limit $144,000? How can I update this?

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1 Best answer
Level 15
Apr 10, 2023 1:22:40 PM

@agerbetz wrote:

Married filing separately.  Is that the reason for the lower limit?

Yes.  If you are living together, filing separately and your modified AGI is $10,000 or more your Roth IRA contribution is reduced.

Go to this IRS website for Roth IRA contributions - https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2022

3 Replies
Level 15
Apr 10, 2023 1:13:50 PM

What is your fling status?  Married?  If so, are you filing as MFS or MFJ?  If MFS are you and your spouse living together?

New Member
Apr 10, 2023 1:18:20 PM

Married filing separately.  Is that the reason for the lower limit?

Level 15
Apr 10, 2023 1:22:40 PM

@agerbetz wrote:

Married filing separately.  Is that the reason for the lower limit?

Yes.  If you are living together, filing separately and your modified AGI is $10,000 or more your Roth IRA contribution is reduced.

Go to this IRS website for Roth IRA contributions - https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2022