ThomasM125
Expert Alumni

Retirement tax questions

@BobT1944 I suggest you enter the IRA contribution and work through the steps in TurboTax. You will be informed that you will be penalized for the  excess IRA contribution and asked if you withdrew the money by the due date of your tax return. If you say "no" then form 5329 will be generated by TurboTax to account for the penalty on your excess contribution.

 

 

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