The W-2 income is sufficient to support a $6,000 IRA contribution. The fact that you have an AGI of less than $6,000 is irrelevant. Self-employment business loss (or any other kind of loss) does not get combined with the W-2 income to determine compensation that supports the IRA contribution. You do not have an excess contribution. Once everything is entered into TurboTax you will see that TurboTax does not flag an excess contribution.
