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Retirement tax questions
From reading another persons post & answer, I am seeing that :
TurboTax will put $158 (the maximum contribution I could have made for 2023), on line 19
if you are allowed to make a Roth contribution for 2023.. that is what it did.
That is even though I didnt make any Roth contribution for 2023. from what I read that part is correct.
My 2024 line 22 was not zero.... regardless since I removed the excess $700 in Nov. 2024 it looks like I need to amend 2024 to have the excess $700 carried forward to my 2024 Form 5329 line 18, and the distribution will then be on line 20 to be subtracted from the excess, with line 24 showing $0.
I really dont know what to do, .. leave it alone ? I paid $31 tax on line 25 (I know its not a-lot ) Even though I took the excess out. If I leave it alone , I'll just keep paying the tax...