IRA glitch in software?

3 replies
36 views

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.

Lacerte Tax

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Karl

Intuit Community Champion

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.

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BobKamman

Level 15

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?

qbteachmt

Level 15

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

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