Hi TurboTax experts!
For the first time ever, I have "penalty on early withdrawal of savings" on my taxes.
I did not withdraw money from my retirement accounts. I did the usual backdoor Roth IRA conversion from Traditional IRA and a mega backdoor 401k conversion: The first does not show taxable amount in 4b of 1040, and the latter marked as ROLLOVER in 5b.
Any guidance on why do I have an early withdrawal penalty?
Thank you for your guidance!
