Please help me resolve this problem using 2024 Turbo Tax Deluxe
I accidently made a Roth IRA deposit of $7000 on April 11, 2022 for the 2022 tax year in a year that I had no income (other than pension and SS)
The mistake was caught and the excess contribution was withdrawn on 4-2-24.
The resulting 1099-R shows the withdrawal with a “T” code.
How do I now address the penalty tax when filing me 2024 taxes?
Do I need to file a Form 5329 and for one year or two year penalty?
Thanks
