Yes, you will have to pay the 6% penalty for the 2021 excess on your 2022 tax return:
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA”
- On the "Do you have any Excess Roth Contributions" answer "Yes"
- On the "Enter Excess Contributions" screen enter the total excess contribution from 2021 (if it wasn't carried over).
- TurboTax will create Form 5329 for the 6% penalty.
@gjgogol
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