DanaB27
Expert Alumni

Get your taxes done using TurboTax

It seems you entered a prior year excess contribution. If you do not have a excess contribution from prior years then please follow these steps:

 

  1. Click on "Search" on the top right and type “IRA contributions”
  2. Click on “Jump to IRA contributions"
  3. Select “Roth IRA
  4. On the "Enter Excess Contributions" screen delete the entry.
  5. Continue until the penalty screen and enter the excess contribution amount withdrawn ($2,000).
     

 

Note, you should only enter $2,000 as the withdrawn contribution by the due date. Do not include the earnings on the penalty screen. Then you should have $2,000 in box 25.

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