DanaB27
Expert Alumni

Retirement tax questions

If you are able to make Roth IRA contribution for 2024 then you should contribute less than your allowed amount. Then you are able to apply the rest excess of the 2021 excess contribution as a 2024 contribution and resolve the excess contribution that way.

 

  1. Click on "Search" on the top right and type “IRA contributions”
  2. Click on “Jump to IRA contributions"
  3. Select “Roth IRA
  4. On the "Do you have any Excess Roth Contributions" answer "Yes"
  5. On the "Enter Excess Contributions" screen enter the excess contribution from 2021 (if it wasn't carried over).
  6. On the "How Much Excess to 2024?" screen enter how much you want to apply to 2024.
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