kfsandrock
Returning Member

Get your taxes done using TurboTax

Can someone tell me why TurboTax is flagging my return because I contributed too much to my Roth?  I have BB coded in box 12a on my W-2 which is a Roth contribution under a 403(b) umbrella.  As I understand the law, I can contribute $26,000 to my 403(b) because I am 52 years old.  I've only contributed $8,947 into my Roth for 2020.  It's telling me that I was only allowed to put $7,000 in my Roth and that I'm going to have to pay a 6% penalty.  How do I get around this in the software because it is not correct?