Thank you. I followed your instructions and only entered the JP form when I amended 2021. After that I see that Turbo created a form 5329, with only section IV filled out. Line 18 enter your excess contributions from line 24 of your 2020 form 5329 it has $6000. Line 19 and 20 both show 0. So for total excess contribution on line 24 it has 6000 and additional tax on line 25 is 360.
Is the payment of $360 in this case the penalty for 2020 excess and not 2021 excess because I withdrew before October 2022? I’m just trying to understand because I couldn’t figure out how Turbo tax knew about 2020 excess if I didn’t enter the other form. Thanks.
