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sledking666
New Member

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

 
1 Best answer

Accepted Solutions
dmertz
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Resolved in the comments (I think).

View solution in original post

8 Replies
VolvoGirl
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Are you entering contributions for more than $5,500?
sledking666
New Member

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Yes but the roth maximum is 5500, it is including the traditional ira contributions too so its over 5500  18
VolvoGirl
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

What?  You can only contribute a total of 5,500 to both of them combined.   Sounds like you made an excess contribution.  @dmertz
sledking666
New Member

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

roth max is $5500 combined total of roth and traditional ira can not exceed $18000
Zbucklyo
Level 9

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Sorry, no, @VolvoGirl is correct.  You are perhaps confusing a 401 (k) and a traditional IRA.
dmertz
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  If you entered any of these amounts elsewhere, go back and remove those extraneous entries.
sledking666
New Member

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

thank you
dmertz
Level 15

Why does turbo tax tell me combined maximum ira and roth contribution is $5500?

Resolved in the comments (I think).

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