MAGI calculation for Roth IRA contribution

Forum|Forum|2 years ago
March 8, 2024
3 replies
16 views

ProSeries appears to be miscalculating MAGI for purposes of the Roth IRA contribution limitations. It is adding back SE health insurance, which is not supposed to be a modification for MAGI purposes. Has anyone else experienced this? I ran the calculation on the IRS worksheet (manually) and it seems ProSeries is definitely miscalculating. SE health insurance is not an add-back. Line one had to be overridden to match the IRS worksheet and allow the Roth contributions. See line 1 of the worksheet. It seems to be OK for traditional. Why?

ProSeries Professional

This topic has been closed for replies.

T

TaxGuyBill

Level 15

I haven't had to experience it, but if it is adding that back, then yes, it is an error.

For your question "why", that is because Intuit's developers are not 'tax people' that know the tax laws and that Intuit has zero Quality Control by anybody that know what they are doing.

A

Anonymous

Hi @pfeifferacct @TaxGuyBill - We'd like to take a closer look at this error.
@pfeifferacct I sent you a message to with the information to upload a sanitized file. Let me know if you were able to do so. Thanks.

P

pfeifferacctAuthor

Level 3

Gabi, what happened to this issue? It has been weeks, I sent the sanitized file and have heard nothing. This needs to get fixed or the client can't file.

Please reply to this post!

P

pfeifferacctAuthor

Level 3

Gabi, I uploaded the sanitized files. The first was overridden to confirm with IRS rules, the second file is how Proseries is mis-calculating it. It is called "unmodified"

P

pfeifferacctAuthor

Level 3

Any answers?

taxiowa

Level 8

World to make ---- 7 days

Intuit to make change --- 7 weeks

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