Rolled over old 401k to Roth in 2018. Roth "contribution" was too much, asses a penalty. This was 401k money I can't withdraw excess. How do I handle to avoid penalty?

pfsciotti · ‎June 1, 2019

Turbotax penalty on excess Roth but it was 401k rollover money.

dmertz · ‎June 1, 2019

Remove the entry you made regarding this under Deductions & Credits. It is not a regular Roth IRA contribution.

Enter this taxable rollover by entering the Form 1099-R Personal Income -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plans (1099-R), then answer the follow-up questions to indicate that the money was rolled over to a Roth IRA.

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Rolled over old 401k to Roth in 2018. Roth "contribution" was too much, asses a penalty. This was 401k money I can't withdraw excess. How do I handle to avoid penalty?

Retirement tax questions