2024 IRA Contribution Limits not correct in software

Just got the 2024 Software and it appears the IRA deduction for seniors is still set at 7500. I thought it was raised to 8000 in 2024?

posted

You have to wait a little while. The program just came out because people want to start early. It is a very early version and won’t be fully ready until mid January. The IRS hasn’t even approved all the forms yet for Turbo Tax to use. There will be many updates. They usually update on Thursdays. If your program doesn’t automatically update you can try updating by going up to menu item Online - Check for Updates.