Roth IRA - 2019 Worksheet Not Showing Excess Contribution?

[karatechop79]

When I did my 2019 taxes, I received no indications that my Roth IRA exceeded the maximum annual contribution for my AGI (I fall into the reduced contribution band).  However when going back through my records, I calculated that my contribution exceeded my limit by $24.  Looking through my tax worksheets, including the IRA Information Worksheet, nowhere does it indicate an excess, or that I paid an excess penalty.  Does anybody have insight as to how this would be able to slip by Turbotax? 

Because it was not documented on my 2019 taxes, I do not think it will show as an excess to roll over into 2020.

[dmertz]

Chances are that TurboTax calculated correctly and that your own calculation is incorrect.  Perhaps you are miscalculating the modified AGI for the purpose.  If you (or your spouse if married filing jointly) did any Roth conversions or rollovers from a qualified retirement plan to a Roth IRA, the taxable amounts of these transactions must be subtracted from AGI in calculating modified AGI, which TurboTax does automatically.  (TurboTax does not have a form where it shows calculation of modified AGI for this purpose.  TurboTax simply implements Worksheet 2-1 from IRS Pub 590-A).

Examine line 1 of TurboTax's Roth IRA Contribution Limit Worksheet ("Roth IRA" in the forms list) to see the modified AGI that TurboTax determined.  The rest of that form shows the remainder of the correct calculation that you can compare to your own calculations.