I answered a question wrong about IRA contribution

nomathhere · ‎April 23, 2025

I didn't realize deferrals and contributions are different. I said yes to contributions when it was all deferrals through my employer so I ended up with an overage and a $41 penalty fee. Is there a way to fix this?

AnnetteB6 · ‎April 23, 2025

If you mistakenly entered that you had contributed to an IRA which then caused a penalty for an excess contribution, you can amend your return to correct the error. Use the steps in the TurboTax help article below to get started. Then revisit the IRA Contributions section under the Deductions and Credits part of your return to remove information about contributing to an IRA.

How do I amend my federal tax return for this year?

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