In 2020, I made an excess IRA contribution of $4992 and my husband made an excess IRA contribution of $3164. We did not withdraw the contribution and paid the tax penalty on forms 5329, preferring to "work off" the excess contribution in 2021. In completing our 2021 return, Turbotax shows my prior year's excess contribution as $4992 but when indicating how much of my remaining excess contribution I would like to credit towards my 2021 IRA, it shows the excess contribution as $2797.
TT shows my husband's excess contribution and the amount available to credit towards this year's IRA as $3164. We are both over 50, so I'm not sure why there is a discrepancy?
