I'm adding hypothetical traditional IRA contributions to determine how much my tax liability (running total) will decrease. Boy was I surprised to see it increase after I plugged in a number?? Why is this happening?
A similar situation happened when I plugged in a hypothetical HSA contribution amount for my wife's HSA? The tax libility increased??
Is this a software glitch, or am I missing something? Thanks in advance for your help.
Enter IRA contributions here:
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.