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New Member
posted Aug 23, 2023 5:07:18 PM

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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Level 15
Aug 23, 2023 6:01:30 PM

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.

1 Replies
Level 15
Aug 23, 2023 6:01:30 PM

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.