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L
lindselltt
March 26, 2021
Question

Does turbo Tax calculate whether you are eligible to contribute to a Roth IRA?

  • March 26, 2021
  • 1 reply
  • 0 views
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1 reply

M
MinhT1
March 26, 2021

Yes, TurboTax will determine whether you are eligible to contribute to a Roth IRA from your MAGI.

 

The rules are listed in this IRS document.

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L
lindsellttAuthor
March 26, 2021

I see the rules at the IRS link, but is there a place in Turbo Tax software that notifies you that you are eligible?  I haven't seen a message like this.

T
ThomasM125
March 26, 2021

In TurboTax, you need to enter your ROTH IRA contribution and when you get towards the end of that section, you will be informed of the maximum amount that you can make if your contribution is too large. Here is how you can enter your ROTH IRA contribution in TurboTax:

 

  1. Deductions and credits
  2. Retirement and Investments
  3. Traditional and Roth IRA Contributions

 

 

 

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