Found Errors in 2 calculations in Turbo 2018
I found two errors in the new 2018 Turbo Tax.
1) The Health Savings Account form 8889 doesn't allow the full contribution for a person over 55 years old contributing what should be the maximum for 2018. I entered $7950 ($6950 + $1000). The program alerted me that I had over contributed by $200. It looks like the 2017 max figure of $7750 is still programmed in.
2) The non-deductible IRA form 8606 does not accurately compute the taxable amount for someone who has an after-tax basis in their traditional IRA account and makes a conversion from the traditional IRA to a Roth IRA. The software did not calculate the non-taxable portion in Part I of the form. In Part II, it subtracted the entire IRA basis from the conversion amount and gave an incorrect figure (substantially less) for the taxable amount that is carried to 1040, line 4b.
