Yes, you must also clear what would now have been a flagged entry on line 7 of the IRA Contributions Worksheet. The amount on line 7 is not permitted to exceed the amount on line 4 of the IRA Information Worksheet. Smart Check would have caught this.
Had you never entered the erroneous excess contribution amount in the first place, you never would have ended up being able to put an amount on line 7 of the IRA Contributions Worksheet.
