TurboTax IRA contributed wrks modified adjusted gross income calculation question

Forum|Forum|1 year ago
February 10, 2025
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This is a question regarding the Roth IRA contribution limit smart worksheet, Line 1 ‘enter your modified adjusted gross income’ -

TurboTax automatically calculates/enters the amount of line 1, but it’s not the same amount of the adjusted gross income from 1040 line 11. I’m confused why the amount of line 1 on that worksheet is different from 1040 line 11? How TurboTax calculates it? What is the formula for calculating it?

Thanks.

MinhT1

The Modified AGI for Roth IRA purposes is different from the AGI on line 11 of form 1040.

For the calculation of the Modified AGI for Roth IRA purposes, please see Worksheet 2-1 contained in this IRS document.

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Louise35Author

Thanks for your quick response! My modified AGI for Roth IRA purpose on Line 10 of pub 509-A worksheet 2-1 is 1040 line 11 subtracts Roth conversion (as I have 0 on line 4-9). However, line 1 of TurboTax Roth contribution limit worksheet shows a different number, $4800 less than 1040 line 10. Why? What could possibly cause the difference of $4800?

Louise35Author

Line 1 of TurboTax MAGI for Roth contribution worksheet shows a different amount than what on line 10 of IRS pub 509-A worksheet 2-1 MAGI for Roth purpose. Should they be the same amount? Not sure what I’ve missed?

Thanks.