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Why am I getting the message "You currently have a penalty because tax payer made an excess contribution of 7000 to Roth IRA" even tho I did it all correctly in 2024.
In July 2024, for tax year 2024, I contributed 7k to IRA and after a few days transferred the money over (7,005 with ~ interest) to Roth IRA. I got the message as stated in the title. I also uploaded my 1099-R. What am I doing wrong here?
‎April 14, 2025
3:19 PM