topic Re: Roth contributions in Retirement tax questions

Roth contributions

Cbean67 — Wed, 11 Feb 2026 03:05:48 GMT

I am contributing to a university sponsored Roth IRA, I am allowed to contribute around $22,000 annually and not be penalized.

I called them to make sure about this.

I contributed around $9,800 in 2023 but when I enter that amount in the program it says I am being penalized for everything over $7,500.

What am I doing wrong?

Re: Roth contributions

dmertz — Fri, 16 Feb 2024 23:49:40 GMT

The account to which you made employee contributions is not a Roth IRA but is instead a designated Roth account in a 401(k), 403(b) or 457(b). Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. Go back to Deductions & Credits and remove the mistaken entry that you made there.