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Retirement tax questions
"No, if your 2023 Form 1099-R shows codes 8 and J then you will enter it on your 2023 return."
Okay, so in that case I have entered in my excess contributions for prior years on my 2023 return but I have the same questions as before. It keeps on giving me this message:
"Indicate how much of your remaining excess contribution of $288 you want to credit toward your 2023 Roth IRA contributions."
1. How exactly are they getting a value of $288?
2. I don't want them to put any more money in my ROTH IRA for 2023 because I've already reached the limit for my ROTH IRA contributions for that year. But then when I enter 0 it gives me this message:
"IRA Contributions Worksheet: Line 26 - Taxpayer's excess Roth IRA contribution credit should be equal to $288.00, the Roth IRA contribution credit from Form 5329, Part IV."
Is this a problem? Can I just ignore this message and put 0 anyways?