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IRA glitch in software?
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Strongsilence-C
Level 9
06-15-2023
05:24 PM
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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.
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3 Comments 3
Karl
Level 8
07-14-2023
07:18 PM
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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.*
BobKamman
Level 15
07-14-2023
09:38 PM
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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
07-15-2023
03:20 PM
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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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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
