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If I absorbed a 2019 Roth IRA overcontribution in 2020, how do I report this on my 2020 return using TurboTax?
I realized after I filed my 2019 return that I overcontributed to my Roth IRA in 2019 by $440. So, I filed Form 5329 and paid the 6% penalty, and this year I am able to absorb the $440 excess in my allowed contribution amount for 2020. How do I report the $440 absorption on my 2020 return in TurboTax? I have been trying to figure out how to find Form 5329 in TurboTax but have been unsuccessful so far.
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March 11, 2021
10:26 PM