The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/turbo-tax-woe-18594551.aspx

Subject:  Turbo-Tax woe Date:  2/14/2003  9:32 PM
Author:  fooldaveonce Number:  63840 of 121341

Here's the problem. My wife and I file jointly. We're mostly retired although she has a part-time job that paid her about $5,500 last year. On the advice of a financial adviser, we each added $2,500 to our Roth IRAs. Turbo-Tax insists that is far more than we were entitled to and won't allow us to complete the return.
Our only other income for 2002 was her pension, Social Security and a paltry return on investments.
I was under the impression we could contribute up to the total of her earned income. Turbo-Tax says no.
Who's right?
Heart-felt thanks to anyone who can figure this out.
FoolDaveOnce




Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us