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Roth Contribution

Forum|Forum|7 years ago
June 1, 2019
2 replies
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I am somewhere in the phaseout income of my roth IRA. Where can I get my 2016 # to show how much additional money I can contribute BEFORE I file my taxes? I know after I've filed I can see my AGI, MAGI, etc. Is this information available before I file?

TurboTax Deluxe Online

Best answer by dmertz

Once all other information is entered on to your tax return, enter a proposed $6,500 total Roth IRA contribution to see if TurboTax indicates any of it to be excess. If so, adjust your proposed total Roth IRA contribution downward by the amount that TurboTax indicates is an excess contribution.

D

dmertzAnswer

Employee

Once all other information is entered on to your tax return, enter a proposed $6,500 total Roth IRA contribution to see if TurboTax indicates any of it to be excess. If so, adjust your proposed total Roth IRA contribution downward by the amount that TurboTax indicates is an excess contribution.

M

MichaelDC

Employee

To see your AGI:

Goto My Account > Tools > View Tax Summary

The calculation for your Modified AGI is a little more complicated.Here a link for the Worksheet for Modified Adjusted Gross Income for Roth IRA Purposes.There is also an attachment below.

To avoid errors, it may be a good idea to let TurboTax figure it out for you. There be a warning during the review if you've made an excess contribution subject to penalty.