I received this following diagnostic after i input the Roth IRA contribution amount in Proconnect. Not sure if I missed anything on the Roth IRA input? How to clear this diagnostic?
Diagnostic: The taxpayer's allowed Roth IRA contribution is $6,500. US - Ref #10777
When you check the return, how much shows up as a deduction on the tax return?
Notice that none of these words are showing up in the diagnosis - CRITICAL - CATASTROPHIC - WARNING
"how much shows up as a deduction on the tax return?"
Oh, good question.
"after i input the Roth IRA contribution amount"
What is that amount?
@qbteachmt The amount input shows in the image 1 which denotes Software - figure out the max I can use.
"shows in the image 1"
Oh, I know this. I was following up your question: "how much shows up as a deduction on the tax return?"
Because the topic has to do with Roth. 🙂
Nothing and I think it is due to the nature of Roth IRA contributions.
The amount is $6500 which the maximum contribution to Roth IRA in 2023. and that's why the picture shows "1"
There is no deduction from the Roth IRA contributions on form 1040.
Ok, I was thinking I entered the roth IRA contribution info correctly. why did the software come out a diagnostic? Made me feel something was wrong.
It is intended to help. In this case you asked the software to make a computation for you. It is suggesting you review that computation and how it is presented to your client.
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