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joelar
Returning Member

Why does my federal tax due increase when I enter my Roth IRA contribution?

 
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Accepted Solutions
AnnetteB
Intuit Alumni

Why does my federal tax due increase when I enter my Roth IRA contribution?

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.


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2 Replies

Why does my federal tax due increase when I enter my Roth IRA contribution?

If youre not qualified to make a roth contribution, a penalty would be computed....could that be whats happening?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
AnnetteB
Intuit Alumni

Why does my federal tax due increase when I enter my Roth IRA contribution?

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.


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