Excess IRA Contribution, How To Calculate and Amend

[TaxesAreNotFunny]

In error, I (over age of 59.5) made a contribution to an IRA in 2022. I received a form 5498 for the contribution. However, I think my Premier TurboTax 2022 software did not ask for any 5498 info, it did not get pulled into my return for filing, and I did not manually add the contribution.  Note also, that I did not claim a deduction for the amount. My financial institution holding the IRA did perform a Return of Excess at my request which was completed in December 2023.  Since the Return of Excess was for a previous year, they would not calculate the earnings or loss applicable. A local CPA initially advised that they could help me with the calculations and amended tax return, but to wait until after the busy 2024 tax season was over. However, when later asked for help, it was then denied since the CPA had not done my 2022 tax return.  So, I have procrastinated, but I am now trying to figure out how to make the calculations needed, and how to amend my 2022 return to reflect the excess contribution, gains or losses as a result, and associated penalties.  Does TurboTax have any experts that could help me for a fee?  Do I somehow ask the IRS to make the calculations for me (would not seem ideal)? Should I seek out another local CPA for possible help?  Thanks in advance for any suggestions.

[RobertB4444]

You can enter all of the information yourself and the system will calculate everything for you.  Here is a thread that helps with everything.  And here are the instructions-

First, you'll amend the 2022 return and enter the IRA contribution.  Because it was an excess contribution the system will calculate the penalties for it and add them to your bill.  

Then you'll amend the 2023 return.  You will show a distribution from your IRA and tell the system that it is a "corrective distribution made before the due date of the return".  Then you file that one as well.

Should be all set.

@TaxesAreNotFunny