TurboTax doesn't seem to calculate my Roth IRA Contribution Limit correctly

[navid-saneie]

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.

[navid-saneie]

Here is the token number:
1285764

[dmertz]

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?

[navid-saneie]

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. 

[dmertz]

What I mean but "performs the calculation correctly" is that 2024 TurboTax accurately performs the calculations on TurboTax's Roth IRA Contribution Limit Worksheet as specified by the IRS on Worksheet 2-2 of the 2024 IRS Pub 590-A.  TurboTax's worksheet will also show on line 1 the MAGI that TurboTax has calculated using the method described by Worksheet 2-1 of IRS Pub 590-A.

If you are filing Single or Head of Household (or Married Filing Separately and you did not live with your spouse at any time during the year), the contribution limit declines from the full annual amount at an MAGI of $146,0000 to zero at $161,000.  $158,000 is $3,000 below $161,000, so that means that the contribution limit at an MAGI of $158,000 would be 3,000/15,000 or 20% of the unlimited amount for your age.  If you are under age 50, that would mean a maximum Roth IRA contribution of $1,400.  This is exactly the result that TurboTax produces.

However, to be eligible to contribute that $1,400 you also need to have at least $1,400 of compensation to support the contribution.  The amount of compensation available to support the contribution will also be shown on the Roth IRA Contribution Limit Worksheet.