Retirement tax questions

If your 2022 return shows the 6% penalty then you will need to amend your 2022 return to remove the penalty. Please see How do I amend my federal tax return for a prior year?

1. Click on "Search" on the top right and type “IRA contributions”
2. Click on “Jump to IRA contributions"
3. Select “Roth IRA”
4. Enter the Roth IRA contribution
5. Continue until the penalty screen and enter the excess contribution amount withdrawn (ignore earnings and losses for this entry)

To remove the penalty on your 2024 return:

1. Click on "Search" on the top right and type “IRA contributions”
2. Click on “Jump to IRA contributions"
3. Select “Roth IRA”
4. On the "Enter Excess Contributions" screen delete the carried over amount

Repeat the steps above on your 2023 amended return.