How do I fix this error? I turn 50 this year. I did a Roth rollover for $8000 and TT is flagging it as an excess contribution with penalty because it exceeds the $7000

[jshoemakermd]

I am able to contribute $8000 as I am turning 50.

[VolvoGirl · Accepted solution]

Only enter it from the 1099R you will get.  Do not enter it under Deductions IRA.  It is not a new contribution.  Delete it from there.  And it is not a rollover, it is a Conversion.  It will be taxable.  

You should get the 1099R by Jan 31.  Enter a 1099R under
Federal Taxes on left
Wages & Income
Then scroll way down to Retirement Plans and Social Security
Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start
If you are adding another 1099R there might be a Add button at the bottom of the list.