I'm getting a notification that I have an excess contribution, but my W2 box 12 with the code AA is less than the $6,000 limit.
Can anyone point me in the right direction of where this notification that my Roth contribution was too high is coming from?
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A W-2 box 12 code AA is for designated Roth contributions at work and have nothing to do with Roth IRA contributions. You only enter the W-2 in the W-2 section and nowhere else.
Do you have any tips on understanding where that number is coming from?
I don't have anything like a rollover from a job change and have checked my contributions for 2021 and they don't exceed 6k, either.
If you entered into TurboTax that you made a contribution to your Roth IRA account and your income is over the limit, it could result in an excess contribution. The Roth 401(k) is different from Roth IRA. Did you make a contribution to Roth IRA other than Box 12 (AA)?
@wtf3ver4ever wrote:
Do you have any tips on understanding where that number is coming from?
I don't have anything like a rollover from a job change and have checked my contributions for 2021 and they don't exceed 6k, either.
The $6,000 limit is for IRA's, not for employer plans.
If you entered the co0ntribution amount anywhere other then the W-2 then remove that. This is NOT an IRA contribution.
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