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azkita
Level 1
March 14, 2021
Question

TurboTax's ROTH IRA limits are wrong for 2020. Limits are now $6000. https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-contributions

  • March 14, 2021
  • 2 replies
  • 0 views
TurboTax's Roth IRA limits are wrong for 2020. They say $5500 (for under 55). In reality, the IRS lifted Roth IRA limits to $6000 (for under 55) for 2020. This glitch in the programming is affecting my tax return. How do we fix this? See this link from the IRS for reference. https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-contributions

2 replies

fanfare
fanfare
Level 15
March 14, 2021

what is your modified AGI (MAGI) for Roth purposes.?

D
dmertz
Level 15
March 14, 2021

2020 TurboTax uses the correct limits in the calculations.  Ignore any help text that has not been updated.

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