DoninGA - It was reported on the W-2 Box 12 and entered that way in Turbotax, but I received the following message from Turbotax:
Your Roth Contribution Was Too High
Roth IRAs offer some great benefits, but there is a maximum contribution of $6000 ($7000 if age 50 or older). You contributed $7142, resulting in an excess contribution of $1142. Learn more.
You Currently Have a Penalty
Because you make an excess contribution of $1142 to your Roth IRA, you will owe a 6% penalty ($68) each year that excess money remains in the IRA.
But don't worry. You can remove this penalty by taking action before April 18, 2023 (or October 16, 2023, if you're filing an extension). What can I do?
Enter any contribution that you withdrew before April 18, 2023 (or October 16, 2023, if you're filing an extension).
Note: You must pay the penalty every year until the situation is fixed.
Is it possible that IRA information was input twice?
RFR7063
