blsdtrly1
Returning Member

Retirement tax questions

The program is giving me the excess contribution amount of $1800. However, if I apply that full amount to this year it shows my total contribution as $2400 (which is the total of this year and all previous year's excess contributions) which is confusing because I'm only putting in $600 this year. Also, it takes away any penalties? The money is not withdrawn so there should still be penalties, correct?