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Get your taxes done using TurboTax
Please follow these steps to enter your Roth contribution and then TurboTax will create Form 5329 for the penalty:
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA” and enter the $4,000 Roth contribution
- You should get a penalty screen at the end of this section.
or
- Click "Deductions & Credits"
- Scroll down to “Traditional and Roth IRA Contributions” and click “Start”
- Select "Roth IRA" and enter the $4,000 Roth contribution
Yes, you might have to use the downloaded software to amend your 2020 tax return.
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February 25, 2023
10:18 AM