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Roth IRA and Taxable Wages

  • A client on Pro 7.5 PR has set up a Roth IRA and has set the Deduction Tax Exempt Code to ‘N’, as called for in the manual.

    Unfortunately, when preparing the 941, the Taxable Wages DO NOT include the amount of Roth IRA deduction as they should. (Roth IRAs are deducted after taxes not before.)

    I’ve reviewed the client’s set up and everything looks just fine to me.

    What am I missing?

    Mark DaVia
    mark@daviaconsult.com
    714-968-9437

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