Turbotax is saying I over contributed to my roth ira due to my MAGI. But my MAGI is under the $153000 limit, so why is it saying I can't contribute the full $6500 amount?
Turbotax is saying I over contributed to my roth ira due to my MAGI. But my MAGI is under the $153000 limit, so why is it saying I can't contribute the full $6500 amount?
From reading the helps on that page when I went through it, unless you truly contributed to a normal roth ira, not a 401k or otherwise, see if your contributions is excluded from that section and you can check 'NO'.
Remember it's a computer program, sometimes you need to check 'no' if the end result of that section does not apply. In this case, the point of checking 'yes' is to ensure your contributions are below $6500.