Form 5329 without a 1099-R in online version

[RothExcessPast]

I made the mistake of contributing too much to a Roth IRA for several years. I decided to absorb the excess by contributing less than allowed rather than recharacterize and convert. For 2023 I absorbed the last bit of my excess from the past years. I need to file Form 5329, as well as the reasoning form, to show the excess contribution as well as calculate what I owe. I can not find the form anywhere in the online version even after searching for it.

Is the form only available in the desktop version? I have no issue printing and mailing the physical form, but is it not available in the online version?

[DianeW777]

You have two options.  TurboTax Online will not allow you to select this form when there's no indicator it is needed such as a code 1 on a 1099-R.  You can convert your return to TurboTax Desktop version and then add Form 5329 to be filed with your tax return.

1. How do I switch from TurboTax Online to TurboTax Desktop?

Once you have your return loaded in TurboTax Desktop you can add Form 5329 to complete it. Start with the steps below.

1. Enter the forms mode and click on open form (left). Type in 5329.
2. Choose 5329-T for the taxpayer (first person listed on your tax return), or 5329-S (for spouse - 2nd person on tax return)
3. Continue to complete your excess contributions section

If you would rather print the form to complete it you can use the link here: Form 5329 and Instructions

• It is a signature document so you can file it alone if you sign it and the IRS will bill you or you can send a payment with the form.

[dmertz · Accepted solution]

DianeW777 's suggestion won't work.

Under Deductions & Credits -> Traditional and Roth IRA Contributions, indicate that you have a Roth IRA.  When TurboTax asks for it, enter the amount of the excess carried into 2023 from 2022, then enter this amount as the amount applied to your 2023 Roth IRA contributions.  TurboTax will then automatically prepare Form 5329.

[RothExcessPast]

Thank you. I entered all that info and TT was able to recognize I had an overage and filled in the blank for me on how much of an overage I had. It asked how much I wanted to credit to my 2023 and I indicated the entire amount.
What I'm trying to do is find the Form 5329 to review and see what I owe to the IRS. When TT found I had an overage the amount I owe this for 2023 tax year did not change so it makes me wonder if they added that amount into what I owe, or if I will need to wait for the bill from the IRS to pay it. Any thoughts on that, @dmertz ?

[dmertz]

TurboTax will automatically prepare the 2023 Form 5329 as part of your tax return.  There is no penalty to pay because the application as part of your 2023 contribution of all of the excess carried from 2022 has eliminated the excess.  With the online version of TurboTax you won't be able to view the Form 5329 until you pay for TurboTax before actually filing, but you can detect the presence of Form 5329 by going to Tax Tools -> Tools -> Delete a form and viewing the list of forms present.  Just don't click on any of the Delete links.