Turbotax hasn't asked me for any information, but seems to pre-populate it using my 2018/2019 returns, saying I owe a $330 penalty. This was actually in error -- I mistakenly checked that I did a IRA recharacterization when I did a proper Roth conversion. I've since corrected it by filing with the IRS too. But I'm listed as having a continuing penalty in my 2019 and 2020 Turbotax paper forms.
How do I manually delete the form 5329 from Turbotax? Or manually edit it so the correct information is there?
When you go through the IRA contribution section interview you should come to the question if you had an excess contribution in previous years. Delete the entry.
Please see How do I view and delete forms in TurboTax Online? for additional information.
Thanks. I’ve already tried that (and inputting $0). My print forms, including Schedule 2 and a 5329 form still stay I’ve made an excess contribution from a prior year and owe a $330 penalty.
What do I do? It seems like a system bug.
Thank you for your feedback. Please see What is the TurboTax phone number? to get more detailed help.