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New Member
posted Mar 18, 2022 10:20:34 AM

Why am i being charged an "Excess contribution" fee on a rollover to a Roth IRA?

Why when I rolled over a 401(k) to a Roth IRA am I being charged an "Excess contribution" tax?  I know the conversion itself is a taxable event.

0 2 622
2 Replies
Expert Alumni
Mar 18, 2022 6:10:40 PM

Can you clarify what you mean?  Provide info on your 1099-R Box 7 amounts.  Thanks! @besttax2

Level 15
Mar 18, 2022 6:27:35 PM

Did you enter the 1099-R  and then  ALSO entered the conversion as a CONTRIBUTION later in the program ... if you did then the contribution would be considered excess because the conversion is NOT a contribution ... simply remove the contribution entered in error.