I rolled over my 401k to an IRA and TT is saying that I contributed too much and have to remove the majority of the funds in the IRA or I will have a penalty. Correct?

[dmertz · Accepted solution]

Do not enter this rollover anywhere under Deductions & Credits.  Only enter the Form 1099-R and answer the follow-up questions.  Go back and remove the entries that you made regarding this under Deductions & Credits -> Retirement and Investments -> Traditional and Roth IRA Contributions.