If you didn't remove the 2022 excess contribution in 2023 you will enter the following steps on our 2023 return to report the excess contribution:
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA”
- On the "Do you have any Excess Roth Contributions" answer "Yes"
- On the "Enter Excess Contributions" screen enter the total excess contribution from 2022 (if it wasn't carried over).
- On the "How Much Excess to 2023?" screen enter how much you want to apply to 2023 (this will only come up if you are allowed to make a Roth IRA contribution).
If you cannot apply the excess to 2023 or 2024 then you will have to remove the excess contribution as a regular distribution (without earnings or losses) by December 31, 2024, to avoid the 6% penalty for 2024.
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