Strongsilence-CPA
Level 10
‎06-15-2023 05:24 PM

Maybe this isn't a glitch.  What do you think?

I set the Individual tax return to maximize a Traditional IRA and to maximize a Roth IRA.  The TP qualifies for either type.

It chooses the Traditional IRA.  

It doesn't tell me why it chooses the Traditional.

Labels
0 Cheers
Reply
Karl
Level 8
Level 8
‎07-14-2023 07:18 PM

I wouldn't call that a glitch.  It'd be nice to have it pop up as an info diagnostic.  I'd recommend you post in the Tax Ideas Exchange.  Link that post here as a reply and I'll happily upvote it for you.

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*
0 Cheers
Reply
BobKamman
Level 15
‎07-14-2023 09:38 PM

Why would it ever maximize a Roth?  Isn't it just telling you whether the taxpayer qualifies for an IRA deduction?  How would it know the benefits of a Roth without knowing the tax bracket at time of withdrawal?

0 Cheers
Reply
qbteachmt
Level 15
‎07-15-2023 03:20 PM

It "chooses" the Trad because it has an impact on the tax owed; it does the math and sees the tax owed was reduced.

*******************************
Don't yell at us; we're volunteers
Reply