@Critter-3 - The posters question was about excess contributions penalty which is why I asked for clarification.
There are two ways to get "excess contribution":
1) Make a IRA contribution more then the amount of taxable compensation for the tax year, or
2) Mistakenly enter the Roth conversion as a new Roth contribution instead of a 1099-R and a conversion.
**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.**
