Why am I being told that my adjusted gross income, that's well under $100,000, is over the current Roth limit to contribute?
My adjusted gross income is $55,486, and turbotax is telling me that it puts my over the Roth limit and my contribution is an excess contribution. If the limit for a single person is $153,000 for 2023 why is it telling me I'm over it?
01105
1 Replies
ThomasM125
Expert Alumni
Mar 28, 2023 4:58:24 PM
One possiblity is the your adjusted gross income includes non-earned income, such as pension, social security and investment income. You can't contribute more to an IRA account than the total of your earned income for the year.