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For 2022, I mistakenly entered a dollar value, which I should have entered "zero" value for "Excess IRA Contribution". How do I amend this return?

By amending, will allow me to ignore "Excess IRA Contribution" for 2023 return, hence remove my penalty at least for 2023 year.
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1 Reply
DanaB27
Expert Alumni

For 2022, I mistakenly entered a dollar value, which I should have entered "zero" value for "Excess IRA Contribution". How do I amend this return?

Yes, if you entered an amount for excess contribution prior to 2022 but did not have an excess contribution because you removed it plus earnings before the due date then you will have to amend you 2022 tax return

 

  1. Click on "Search" on the top right and type “IRA contributions”
  2. Click on “Jump to IRA contributions"
  3. Select “Roth IRA
  4. On the "Enter Excess Contributions" screen delete the amount incorrectly entered.
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