turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Aunt KK
New Member

Roth IRA amount for 2020 rejected by TurboTax program even though I had put in my self employed income

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

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Roth IRA amount for 2020 rejected by TurboTax program even though I had put in my self employed income

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).

 

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Aunt KK
New Member

Roth IRA amount for 2020 rejected by TurboTax program even though I had put in my self employed income

Yes, but I made a lot more than I put in the roth.  I had earned income and program won't recognize it.

Roth IRA amount for 2020 rejected by TurboTax program even though I had put in my self employed income

How much using schedule 3 as I posted?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question