It could be that your Modified Adjusted Gross Income (MAGI) is above the limit to allow you to make the Roth IRA contribution. If that is the case, you are being penalized for an excess contribution. Pay close attention to the information on the screen as TurboTax will calculate the MAGI and show messages to tell you the amount you are allowed to contribute.
To learn more, take a look at the following:
Amount of Roth IRA contributions that you can make for 2024
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