My 5329_T from reads that I have excess contributions of $3,250. This is incorrect. How do I fix it? Total contributions (EE & ER) were $4,250 (I am 61)

heather-tucker · ‎October 11, 2019

macuser_22 · ‎October 11, 2019

Excess contributions for what? What is "EE & ER"? What line on the 5329 is the excess on?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

dmertz · ‎October 11, 2019

I assume that EE and ER is referring to employee and employer contributions to an employer-provided retirement plan such as a 401(k) plan, 403(b) plan or to a SIMPLE IRA. Form 5329 has nothing to do with such contributions.

Amounts in box 12 of your W-2, if any, are to be entered only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

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My 5329_T from reads that I have excess contributions of $3,250. This is incorrect. How do I fix it? Total contributions (EE & ER) were $4,250 (I am 61)