Turbox told me that I have excess contribution for Traditional IRA and thus have to pay a penalty of $420. This amount will be deducted from my refund. But I do not have excess contribution. I called my bank and they verified that I do not have excess contribution for traditional IRA. In march of this year, I contributed towards 2021, and 2020, $7000 each. (I am over 50 years old). I believe there is a problem with Turbotax calculation, as I am allowed to contributed for 2021 and last year of 2020. So how this problem is to be solved. I just lost $420 due to Turbo tax.
Thanks
