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There is no breakdown, so I'm confused. This increased hundreds of dollars after I manually entered Roth and traditional IRA excess contribution corrective distributions. I expected no tax. No time passed between the contributions and the corrections, nothing had been invested, so there were no earnings.
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Yes, you can. You may need to revisit your corrective contribution entries. Form 5329 will show you the Additional tax on your IRAs.
To see what the ''other taxes'' are, preview Form 1040 and look at Schedule 2, Part ll. When you preview Form 1040, Schedules 1, 2, and 3 will also be visible; just scroll down past Form 1040.
How to Preview Form 1040 in TurboTax Online.
Use Forms Mode if you are using the desktop software.
Here is a snapshot of a blank Schedule 2. See Lines 4 and/or 8; those two are the most common.
Yes, you can. You may need to revisit your corrective contribution entries. Form 5329 will show you the Additional tax on your IRAs.
To see what the ''other taxes'' are, preview Form 1040 and look at Schedule 2, Part ll. When you preview Form 1040, Schedules 1, 2, and 3 will also be visible; just scroll down past Form 1040.
How to Preview Form 1040 in TurboTax Online.
Use Forms Mode if you are using the desktop software.
Here is a snapshot of a blank Schedule 2. See Lines 4 and/or 8; those two are the most common.
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