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Deductions & credits
Yes, you will answer no to TurboTax's question if you have an excess contribution because you did not have any prior year excess contribution. This question refers to the excess contribution made in prior years that were not removed.
You won't have any penalty because you removed the 2022 excess contribution before the due date of the 2022 tax return.
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‎February 25, 2023
1:28 PM