Why does my refund go down when I enter my total of IRA accounts? Errors show up that I over contributed to my IRA. I worked full time and I put in $10500 total for yr.

[rmcmorrow1]

I also put in $7000 in my Roth IRA.  Is there an error in something I am doing?  can I take the excess contribution out to avoid the Penalty?

[MichaelL1]

Did you do some of this through the job you had and put it in a 401K?

[rmcmorrow1]

All of the contributions were through work.

[VolvoGirl]

You can only contribute 5,500 (6,500 >65) total for all your IRAs combined.  That is per person.  IRA and 401K are separate.  Don't enter 401K as IRA Contributions.  Only enter 401K from your W2, nowhere else.

[rmcmorrow1]

Thank you for your help.  That fixed it.         Bob Mc

[MichaelL1 · Accepted solution]

Great, as they do not get entered as contributions as they are already taken into account when the W-2 is entered.

Remove them from the contributions area.

go to Federal Taxes

Deductions and Credits

I'll chose what I work on

scroll down to Retirements and Investments

then to IRA's and remove any contributions made through the employer.

These are not an IRA and do not get entered here.