In the 2018 filing of federal tax, I received an ESOP distribution of $10,237 that I rolled over into my IRA. I didn't know I was limited to $6,500. So, $3737 pops up on my 2019 filing. This is the difference of $10,237-$6,500. I paid a penalty tax on the $3,737 last year, and again this year.
So, on my 2019, Form 5329, Part III, Line 9 is $3,737.
Line 13 0
Line14 3,737
Line 15 3,737
Line 16 7,474
Line 17 448
So how do I get the IRS to stop taxing me for this? I paid tax on this excess in 2018, but Line 16 here seems to be taxing me on it again, in addition to this year. HELP? I'm using Turbo Tax 2019 Premium
