Do active military members have a limit to how much they can contribute to the ROTH IRA? How do I stop the system from falsely flagging my contribution?

Forum|Forum|1 year ago
March 13, 2025
2 replies
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Active military shouldnt have a penalty, Ive asked tsp.gov themselves, turbo tax has no way around this on their website without forcing you to pay for a live agent

DoninGA

Employee

Military members can contribute to a Roth IRA or a Traditional IRA if they are eligible based on their income, filing status and having a retirement plan at work.

Contributions to a Traditional IRA when you have a retirement plan at work - https://www.irs.gov/retirement-plans/plan-participant-employee/2024-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work

Roth IRA contributions are not tax deductible

Contributions to a Roth IRA based on your filing status and income - https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2024

VolvoGirl

Employee

How much did you contribute? Are you sure you have a IRA? Does it come out of your paycheck? If it's a different kind of IRA like though the employer then you only enter it from the W2 and not under Deductions as a contribution.