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Retirement tax questions
It sounds like on the 2018 Tax return the rollover was mistakenly entered as a new IRA contribution and TurboTax treated at least $6,000 of that as an excess contribution. You'll probably need to amend the 2018 tax return to remove the entry of the regular contribution not actually made, correct Form 5329 to remove this excess contribution not actually made, obtain a refund of the excess contribution penalty and correct the amount in that 2019 TurboTax shows as the excess contribution carried in from 2018.
‎February 1, 2020
12:02 PM