I am a self employed church music director, received the new form 1099-NEC for 2020, entered it in program. Continued on to the Roth IRA part where I put in the amount of my 2020 Roth IRA contribution, the program said it was in excess because of no income. Help. This has never happened before in the many years of doing my taxes on Turbo Tax
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It is not all self-employed income, it is net self-employed income minus the deductible part of the SE tax. and other SE plans. (1040 schedule 1 line 3 minus line 14 and 15).
Yes, but I made a lot more than I put in the roth. I had earned income and program won't recognize it.
How much using schedule 3 as I posted?
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