DanaB27
Expert Alumni

Get your taxes done using TurboTax

You do not enter anything on the "Enter Excess Roth Contributions for Prior Years" screen on your 2023 return because you removed the 2022 excess before the due date. Therefore, you no longer have an excess contribution.

 

The instructions above with the penalty screen are for the year you make the excess contribution for. In your case, you should have entered it on your 2022 tax return during the IRA contribution interview. Then TurboTax won’t calculate the 6% penalty on your 2022 tax return.

 

@loeyjc 

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