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I contribute to both ROTH TSP & ROTH IRA. I only put $300 the whole year into the IRA. It's telling me I have a penalty. How is that possible? TSP & IRA are not the same

 
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1 Reply
dmertz
Level 15

I contribute to both ROTH TSP & ROTH IRA. I only put $300 the whole year into the IRA. It's telling me I have a penalty. How is that possible? TSP & IRA are not the same

Make sure that you did not report the TSP contribution under Deductions & Credits.  Only the Roth IRA contribution is to be reported there.  Enter the code AA box 12 amount shown on your W-2 only on TurboTax's W-2 form.

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