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Pearcedc
Returning Member

Roth IRA

We contributed 25K to a company managed Roth IRA.  Turbo tax is highlighting that to too much & can only contribute 7K. Fidelity stated that a company run Roth can contribute higher amounts (25K) and that this is an ongoing TurboTax problem which has been going on for the past few years. ?????? 

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1 Reply

Roth IRA

This appears to be a company 401K (Roth) which has higher limits than IRA's.

 

So do not enter any amounts in the IRA contribution section as this is incorrect.

 

When the W-2 is entered from your employer the 401K contribution is already enter. 

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