I put 6000 in my IRA when I was 49. I put 7000 in when I turned 50. Why do I have an Excess Traditional IRA contribution credit?

[DanaB27]

To clarify, did you contribute more than $7,000 to the traditional IRA for 2023?

For 2023 the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:

• $6,500 ($7,500 if you're age 50 or older), or
• If less, your taxable compensation for the year