I believe I have successfully amended the 2023 return now so we can put that one aside.
On this year's taxes, I upload both 1099-Rs. Then:
- Do I need to tell Turbotax I contributed $7,000 this year at all if I just took it back? When I go to the contribution screen, it says "$8,047 was previously entered on Form 1099-R. Do not enter this amount here." If I put 0 I reach a screen that says "Enter Excess Contributions for Prior Years". Do they just mean the $6,500 from 2023?
- The next screen is "How much excess to 2024? - Indiciate how much of your remaining excess contribution of $0 you want to credit towards your 2024 Roth IRA". The value is only 0 if I put $6,500 on the prior screen so if that is correct I will put 0 here.
If I enter $13,500 things are a little different but for now I will just ask the above. If I do it like the above I am still being charged a 6% penalty which is what leads me to assume it's not correct..
