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azkita
New Member

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

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
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2 Replies

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

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

dmertz
Level 15

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

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

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