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robinlane66
New Member

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

 
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robinlane66
New Member

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

Thanks for the suggestions.  Turns out that Turbotax will not allow you to simply delete form 5329T.  You have to delete a form named "IRA contributions worksheet", whereupon form 5329 goes away automatically.

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5 Replies
robinlane66
New Member

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

Thanks for the suggestions.  Turns out that Turbotax will not allow you to simply delete form 5329T.  You have to delete a form named "IRA contributions worksheet", whereupon form 5329 goes away automatically.

View solution in original post

dmertz
Level 15

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

Simply telling TurboTax that you did not make a Roth IRA contribution won't remove the contribution entry previously made.  Tell TurboTax that you did make a contribution to a Roth IRA, then explicitly delete the amount originally entered.

DanaB
Intuit Alumni

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

Please see this FAQ on how to delete a form:

https://ttlc.intuit.com/replies/3288508

spacecase
New Member

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

Not sure how this happened, but somehow I initially did not complete all the information on one of the screens when entering in 401k contributions.  TurboTax then calculated an excess contribution (even though I don't have any excess).  I went back and completed the input form, but can't get rid of the 5329T, even after attempting several times to delete the IRA Contributions Worksheet.  I can't delete the worksheet or the form in the 2018 version of TurboTax Home & Business.  Any ideas?

dmertz
Level 15

I mistakenly put an amount in IRA contributions for Roth IRA. Later I tried to negate that by clicking I did not do any IRA at all. How do I get rid of the Form 5329 from turbotax?

401(k) contributions have nothing to do with the IRA Contributions Worksheet (other than causing TurboTax to automatically mark the box indicating that you participate in a workplace retirement plan).  IRAs and 401(k)s are different types of retirement accounts.

 

Form 5329 is used to report 9 different types of penalties.  Only Parts III and IV have anything to do with IRA contributions.  Which part of Form 5329 is TurboTax preparing?

 

I'm not aware of anything that would prevent deleting the IRA Contributions Worksheet.  What information is present on the IRA Contribution Worksheet recreated after deleting?

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