No. Not correct. The 6% penalty repeats every year until removed. Since the excess was still in the account on the last day of 2019 then you must pay the penalty again for 2019.
When you file your 2020 tax return next year in 2021 then tell TurboTax that the excess has been removed and yiu will not owe another 2020 penalty.
**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.**
