I reversed my RMD as a rollover back to the same account. Turbotax now says Itook excess contributions and owe penalty,. WTF

[DaveF1006]

Go back through your screens that reference the RMD's, when it asks How much of the $20,000.00 was a RMD? Indicate none was a withdrawal. See if this provides a solution to your issue. You weren't required to take an RMD this year because of COVID restrictions.

[jpstultz]

I had an issue with treating an IRA withdrawal as RMD caused when I incorrectly indicated that part of my withdrawal was RMD.  When I did that, just deleting the 1099 would not fix the issue.  I kept getting the "excess IRA contribution" penalty warning. I also had a screen that wanted to know the total of my IRA account as of 12/31/2020.  I have been making RMD's for 8 years and have never had that question.

The ONLY way I resolved the issue was to totally delete everything and start all over.  there was a programming switch that was turned on by one of my answers at some point and total deletion of all data was the only way to turn that switch off.

[SamS1]

If it happens again, try just deleting the 5329 from your forms listing.  The Form 5329 is used to compute various IRA penalties.  If you get stuck in a situation, try just deleting the from from TurboTax.  Try reviewing your forms in TurboTax and deleting the form causing the problem. While in your return in TurboTax:

• In the left hand column select "Tax Tools"
• Select "Tools"
• Select "Delete a form"
• Review for "Form 5329"
• Delete selected form then "Back"
• Run your Federal review again.

That might help is you run into the problem again.

[VolvoGirl]

Did you get it fixed now?  Sounds to me like you might be trying to also enter it under Deductions as a contribution.  It is not a new contribution.  Just enter the 1099R.