Hi there. So. I made a excess contribtuion of 3320 in 2023.
I also made a 1500 excess contribution in 2024
I paid the 6% tax on the 3320 in my 2024 tax return but never took it out.
Now in tax return 2025 I took out a a timely excess contribtuion for 1500 +162.68 for gains on that 1500
and took out a untimely excess contribution for that 3320 (Untimely does not require you to remove cap gains)
Both of these were taken out roughly April 2025
I dont quite understand how to report this in Turbo Tax.
Turbotax allows me to put in excess contributions for 2024 (1500), but I dont see an option to report untimely contributions or a form 5329.
My understanding is that I will report the 162.68 in gains for 2024 excess as actual income and I will not be charged the 6% penalty on the 1500.
My understandign is that I will be charged the 6% penalty again for the 3320 untimely excess in 2023.
I simply dont see how to input the 3320 into turbo tax. Can someone please help.
Turbo Tax allows me to report
