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March 6, 2023
Question

ira contribution

  • March 6, 2023
  • 1 reply
  • 0 views

TurboTax will not let me deduct more than $7000.00.  I believe it should be $7500.00.  How will TurboTax rectify this problem?

    1 reply

    Employee
    March 6, 2023

    $7,500 in tax year 2023 but maximum of $7,000 for 2022 if you are age 50 or older. 

    fanfare
    Employee
    March 6, 2023

    TurboTax knows the number and it knows what year it is.