My wife and I are both retired. I am 67 and she is 60. We contributed $7,000 each to our 401(k) accounts. We received part time income of $11,000 for me and $38.00 for my wife. We also received $26,000 in 1099 interest and $35,000 in dividends. Why is TurboxTax stating we must remove $2900.00 from my wife's 401(k) account or we will pay a penalty ?
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