486254
You'll need to sign in or create an account to connect with an expert.
If your balance due increased when you entered your Roth IRA contributions, that probably indicates that you have exceeded the contribution limit for Roth IRAs based on your income and the contribution is being taxed as an excess contribution.
Go back through the section of your return where you entered the Roth contributions and be sure to go through each screen. TurboTax will indicate if you have an excess contribution that needs to be removed.
To read more, take a look at Roth IRA Contributions for 2017.
If your balance due increased when you entered your Roth IRA contributions, that probably indicates that you have exceeded the contribution limit for Roth IRAs based on your income and the contribution is being taxed as an excess contribution.
Go back through the section of your return where you entered the Roth contributions and be sure to go through each screen. TurboTax will indicate if you have an excess contribution that needs to be removed.
To read more, take a look at Roth IRA Contributions for 2017.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
av8rhb
New Member
FrustratedUser
Level 1
JQ6
Level 3
1dragonlady1
Level 1
SCswede
Level 3