IRS has the exact formula on how to calculate your Max Roth IRA contribution based on your AGI. TurboTax number doesn't match with that for my AGI. How can I edit or ask TurboTax to fix this?
Token number in comments.
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Here is the token number:
1285764
TurboTax does do the correct calculation (except, perhaps, if you have a distribution from an inherited IRA and you have your own basis in traditional IRA contributions; I'm not sure that the developers ever fixed that obscure bug).
Why do your think that the MAGI calculated by TurboTax is incorrect (rather than thinking that your own calculation might be incorrect)? What differs?
Saying TurboTax does it correctly doesn't unfortunately help. I am not having a problem with their MAGI calculation. I am saying their max contribution limit is not correct. I am simply putting the same MAGI value TurboTax is giving me, into the formula provided by IRS and the numbers are different.
If you want, I give you an example, go to IRS provided formula for a MAGI of 158000. Calculate what you get as max contribution.
TurboTax is giving me around $1000 limit. Which doesn't make sense.
My main question is mostly how to talk to TurboTax about their calculation! And how to report the mistake.
They can convince me that they are not wrong or help if they are.
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