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wfs5635
Returning Member

TurboTax home and business 2022

I have a problem with TurboTax home and business 2022 which allowed me to take an IRA deduction of $7000 each for myself and my spouse which the IRS has denied this deduction based on my modified adjusted gross income being too high. Which has resulted in going from a $514 refund to a tax due of $3448.

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3 Replies
TomD8
Level 15

TurboTax home and business 2022

When you entered your IRA contributions into TurboTax, did you specify (for both you and your spouse) that they were Roth IRA contributions?  If so, the program normally would have alerted you about the MAGI limit.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
wfs5635
Returning Member

TurboTax home and business 2022

Both were entered as IRA contributions and not as a Roth IRA contribution.

TurboTax home and business 2022

Ok ... if you entered the IRA contributions correctly then the program would have alerted you to the non deductibility of them based on your AGI and completed the form 8606 automatically.  So did the IRS change something else on the return to affect the AGI ? 

 

I GOT A LETTER FROM THE IRS   

https://ttlc.intuit.com/questions/3605673-i-got-a-letter-or-notice-from-the-irs

 

I AM BEING AUDITED

If you purchased Audit Defense:

https://ttlc.intuit.com/questions/2924451-i-bought-max-or-audit-defense-and-now-i-m-being-audited

 

AUDIT SUPPORT

https://support.turbotax.intuit.com/irs-notice/audit-support/

 

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