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Retirement tax questions
It seems you answered "yes" on the "Do you have any Excess Roth Contributions" screen and entered that you had a prior year excess contribution since you have an amount on line 22 of Form 5329. Also, make sure if you entered a Roth IRA contribution that you enter the excess contribution as withdrawn of the penalty screen (another option is to not enter the contribution at all). Please review these entries:
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA”
- On the "Enter Excess Contributions" screen delete any entries
- Continue until the penalty screen and enter the excess contribution amount withdrawn.
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April 6, 2024
5:12 AM