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baikenche
New Member

If 2022 return had 8,000 contributed to a Roth, this is a AA- designated Roth contribution under a section 401K plan. I did not over contribute, why did I owe penalty

 
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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

If 2022 return had 8,000 contributed to a Roth, this is a AA- designated Roth contribution under a section 401K plan. I did not over contribute, why did I owe penalty

A 401(k) is not an IRA.  Enter the code-AA amount only on TurboTax's W-2 form, nowhere else in TurboTax.  Assuming that you made no Roth IRA contribution, remove the Roth IRA contribution entry that you made.

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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

If 2022 return had 8,000 contributed to a Roth, this is a AA- designated Roth contribution under a section 401K plan. I did not over contribute, why did I owe penalty

A 401(k) is not an IRA.  Enter the code-AA amount only on TurboTax's W-2 form, nowhere else in TurboTax.  Assuming that you made no Roth IRA contribution, remove the Roth IRA contribution entry that you made.

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