Possible Turbotax mistake.

Forum|Forum|1 year ago
March 12, 2025
1 reply
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I contributed to a ROTH IRA in 2024. Turbotax Deluxe requested the contribution amount and calculated an increase in my tax refund. Turbotax created a short pop-up box with an explanation that the contribution increased my refund. That should not have happened. Only contributions to a Traditional IRA should reduce your taxable income thus increasing your tax refund, correct?

ThomasM125

While it is true that the contribution to your Roth IRA is not deductible, there could be other benefits to making it such as qualifying for a retirement savings contribution credit. That could lower your tax. I suggest you look at your return before the contribution and after to see what changed.

To view your form 1040 and schedule 1 to 3:

Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
Choose Tools
Choose View Tax Summary
See the Preview my 1040 option in the left menu bar and click on it
Choose the Back option in the left menu bar when you are done