@TrishaM wrote:
In theory, I totally get it. In execution, well... I'm struggling.
On Form 5329, Line 9 - enter excess contribution from 2018 Form 5329. It does not allow me to enter anything there, but sends me to the IRA Information Worksheet, Line 4. I enter 864 excess contribution there. It does not populate onto 5329, Line 9.
On Form 5329, Line 10 - Enter the difference of contribution limit less contribution: My limit is 6500, I contributed 3000, so I should enter 3500 here. I get a blue box, but can't type anything in here.
So I'm just feeling stuck... Seems like I don't know what to type into which boxes to get this to populate properly.
You said above:
"This was for a Traditional IRA. I cannot find the "excess carry forward" page in Turbo Tax. Is this the page, in the IRA section, that says "Enter excess amount"? Right now that page has pre-populated with $864. Do I enter zero there?"
That is where you enter the 0 (zero) which should remove it for the 5329 line 9.
If you are in the "forms mode" (which you appear to be) then you can also view the "IRA Information Worksheet" line 4 that should have the 2018 carry forward $864 excess, and enter a 0 (zero) which should do the same thing. Once the carry-forward excess is gone the 5329 should also go away.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
