As of the 2021 edition - THERE IS A DEFECT IN THE TURBOTAX SOFTWARE.
I had excess roth contributions for 2020 and 2021.
FIRST - Turbotax did not notify me with a warning that I had an excess contribution. That would have alerted me to back out the excess immediately through my brokerage firm.
SECOND - after my 2020 taxes were filed in March of 2021, I independently looked up roth limits, realized there was a problem and had the excess roth contributions for 2020 and 2021 backed out.
Now that I am doing 2021 taxes, Turbotax is not calculating that Backed out income as the taxable portion, it is calculating that the ENTIRE amount of what was backed out as income. It is a defect, both of these issues have caused me financial injury, and I am 36 hours in to calls, chats, etc. with Turbotax product, and CPA staff trying to get the filing corrected (much less having them pay me back for the financial injury they have caused me.).
BE CAREFUL IF YOU HAVE EXCESS ROTH CONTRIBUTIONS!!! TURBOTAX DOES NOT ACCOUNT FOR IT CORRRECTLY.
