In May 2024, I made an $8000 contribution to my Roth IRA. I didn't realize at the time that would be ineligible to contribute. I discovered this fact while doing my 2024 federal taxes in TurboTax.
As prompted by the software, I entered the 2024 contribution amount ($8000) and, a couple of screens later, entered the excess contribution that I had removed from my Roth IRA as of 03/27/2025 (also $8000.)
Unfortunately, TurboTax did not remove the 6% penalty of $480 from my taxes due. I can see the charge in Schedule 2, lines 8 and 21, and Form 1040, line 23. Should I just zero out the two $8000 entries in the TT interface and let it recalculate?
