Why am I being told by TurboTax to enter an amount for an excess Roth IRA contribution credit when I have no Roth IRA? I have made ZERO contributions to a Roth IRA, ever. My 401(k) employee contributions are in a Roth Basic plan, but it is an employer-sponsored 401(k) plan, not a Roth IRA. Is this "credit" going to impact my return?
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Did you have an excess Roth IRA contribution in prior years? It seems that you have a carry over from an excess Roth IRA contribution from a previous year.
If you have a carry over of excess contribution but did not have an excess contribution in the past then you will have to review your previous return and check for Form 5329 Part IV.
Also note, please do not enter the Roth 401(k) in the IRA contribution section, you only need to enter your W-2.
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