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New Member
posted May 31, 2019 8:37:29 PM

IRA Contribution worksheet line 7 it keeps telling me i need to review line 7

i contributed 600 this year it wants me to add an amount on line 7

0 1 1173
1 Replies
Level 15
May 31, 2019 8:37:31 PM

This suggests that you have an excess contribution carried into 2016 from 2015.  TurboTax want you to apply this contribution as a contribution for 2016 so as to avoid an additional excess contribution penalty.  Revisit Deductions & Credits -> Retirement and Investments -> Traditional and Roth IRA Contributions, confirm the amount of your excess contribution carried in form 2015, then on the How Much Excess to 2016 page, indicate how much of the excess to apply as a 2016 contribution.