Skip to main content
April 11, 2022
Question

IRA deduction section saying my contribution is more than my income of ZERO, when I've already entered my wages information which is higher than my IRA contribution

  • April 11, 2022
  • 1 reply
  • 0 views
My earned income is not zero... why is this section showing zero

1 reply

April 11, 2022

To clarify, TurboTax is calculating an excess contribution penalty because it believes you have $0 taxable compensation. You entered your W-2 and your box 1 is more than your IRA contribution?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"