To trigger 6% penalty for the 2020 excess contribution on the 2021 return (Form 5329):
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA”
- On the "Do you have any Excess Roth Contributions" answer "Yes"
- On the "Enter Excess Contributions" screen enter the total excess contribution from 2020 (if it wasn't carried over).
Since the excess wasn't removed the excess will be carried to 2021 and therefore TurboTax will ask for step 6 "How Much Excess to 2021?". A better wording might be how much of the prior year excess do you want to apply to 2022.
@Kellystaxes
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
