While doing my taxes, the program tells me that I can lower my taxes if I contribute money into an IRA however, when I say I'm going to maximize my IRA contribution it then tells me I will have a penalty for making an excess contribution. I did not make any contribution in 2019 as I turned 70 1/2 in August of 2019. Why does the program tell me I can make a contribution but then tell me it is an excess contribution? Is it saying that if I had made the contribution before I turned 70 1/2 it wouldn't have been considered an excess contribution?
