It says I have a penalty, what do i put in the box Excess Contribution withdrawn?

[BMcCalpin]

Excess contribution to what? IRA, 401(k) HSA?

Remember that we at AnswerXchange cannot see your tax return nor the screen you are on.

[cabbuehl]

IRA

[BMcCalpin]

If the question is "Excess contribution withdrawn before due date of the return", TurboTax wants to know how much of the excess IRA contribution you are going to withdraw from the IRA before the due date of the return (April 15th unless you file an extension).

"Withdraw" means that you will call your IRS custodian before the due date of the return (unless extended) and ask for a "withdrawal of excess contributions", which will be sent back to you by the custodian.

This is done to avoid the 6% penalty on the excess that is carried over to next year.