Skip to main content
May 21, 2021
Question

Why does my refund drop when I add in my Roth contributions?

  • May 21, 2021
  • 2 replies
  • 0 views
I did not overpay, I also never withdrew.

2 replies

Employee
May 21, 2021

Are you sure it's not your Taxes Due that dropped?  Although Roth contributions are not deductible, you may have received a Retirement Savings Credit.

VolvoGirl
Employee
May 21, 2021

It might think you made an excess contribution.  Be sure the contributions and your income are assigned to the right spouse if you are married.  Or did you do a rollover or transfer from another account?

 

Look at your return before and after entering it to see what changed and if you got a penalty on it.

 

Before filing,  You can preview the 1040 or print the whole return

https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160