New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

Why is the amount of Roth IRA contribution different from the amount used in the return?

Answer

In Screen IRA, if you enter an amount in the Roth IRA contribution field and also use the Have program compute Roth IRA contribution option, the option overrides amounts you entered in the Roth IRA contribution field and calculates the maximum Roth IRA contribution without regard to Roth IRA contributions entered.

If you want the tax application to use the amount you have entered in the Roth IRA contribution field, leave the Have program compute Roth IRA contribution field blank.

Related topic: Individual retirement account FAQs (1040)

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