Josh K asked:


For 2009, I plan on making $140K. I’d like to contribute to a Roth IRA, but that requires a modified AGI < 105K (full contribution), or < 120K (limited contribution). I will fully invest in a 401k plan, which brings the modified AGI to 124K. I don't believe I would qualify for pre tax traditional IRA (I'm single). I think the 2009 health savings account contribution limit is 3K, and I'd prefer not contributing to a health saving account. Are there any other ways to reduce my modified AGI? I don't have any kids. Thanks

Gilbert

rorybellows asked:


I know what the error is, I did not enter the amount of my employer’s contribution to my health savings account, which when I check in TurboTax makes my refund amount about $430.00 less than what was accepted by the IRS. The rep told me that it was in their errors resolution department and there was an error that was being fixed, he was unable to confirm that the HAS amount that was missing was the reason, but this was the only problem with my tax return, oversight on my part. Now am I going to have to submit a 1040x with the correction or will the IRS be able to fix it and still deposit my return since they have record of my W-2 and what was missing? If so what kind of turnaround should I expect. This has caught me completely off guard. It has not been rejected so do they typically fix these types of error internally and submit the refund or do I need to provide them with something by mail?

Manuel

Beau asked:


My buddy apparently went to H&R Block and because he saves a lot of his money, he was able to get more money back? Is this true?

I use eFile.com and maybe someone can recommend a better place to go to file my taxes. I do not spend a lot of money (my money mostly goes into my savings, my 401(k), and my HSA = health savings account). Thanks!

Lawrence

Ruby K asked:


I got married and need to change our W-4. I am estimating online using Turbo Tax and H & R Block Tax Cut Basic. Shockingly we will OWE big time when we used to get $1,000 back each. The question is, though, both programs are reflecting my Health Savings Account (HSA) (deducted from my paycheck pre-taxed) in the adjusted gross income but not his traditional 401(k) (deducted from his paycheck pre-taxed). Shouldn’t it subtract from the gross income his 401(k) contributions like it did my HSA? They are both pre-tax….?

Bradley

Chekka N asked:


Hi all there

Recently there are announcements going on tax rebtes of $600. What I didn’t understand is the “Contributions to IRA and 401(k) retirement accounts and health savings accounts would not count toward the income limit”. Lets say I have income $85000 for 2007. I did contribute $12000 to 401(k) for year 2007. Is I am eligible for the rebate as there is a cap on these rebates exceeding $75000.
W(2) form will have the 401(k) money deducted from your salary and the obtained amount will be reported.

Bernice