Hello, here is my situation:
1). 2021: Switched employers so I over contributed
- Old company: Contributed $1154
- New company: Contributed $3600
2). Tax filing for 2021: We paid 6% penalty
3). Tax filing for 2022: We paid 6% penalty again (but it was okay because I was under an HDHP)
4). Tax filing for 2023: I was not under an HDHP so the excess contribution is not recognized in 2023, Turbo Tax flagged it as an error.
What are my available options now? I want to remove the excess $1154 from 2023, as if subject to a 20% penalty. How can I achieve this using TurboTax? Thank you for your advice.
