do not have a retirement account. why do i have a tax on excess accumulations in retirement account? $10,540

If TurboTax shows a $10,540 tax on excess accumulations in your retirement account, but you don't have one, here are some possible causes and fixes:

Possible Causes and Fixes

Error in Data Entry:

• Check 1099-R Entries: If you received a 1099-R, go back and verify all entries. Ensure that the amounts and details are correct.
• Review All Income: Go through your income entries to ensure nothing is mislabeled. Use the tax tools to check your income summary.
• Check for Mislabeling: Ensure that no income has been incorrectly labeled as retirement income. This can sometimes happen if data is entered incorrectly.

Steps to Resolve

1. Review Your Tax Return: Go through income entries under the income tab, ensure all information is correct.
2. Check for 1099-R Forms: Ensure you haven't received any 1099-R forms that might have been incorrectly issued.
3. Use TurboTax Tools:
   • Be sure you are logged into TurboTax then select preview my 1040.
   • Check Income Summary: Go to "Tools," then "Tax Tools," and select "View Tax Summary."
   • Delete Forms: Go to "Tools," then "Delete a Form," and look for any retirement or 1099-R forms that might be incorrectly listed. You can find more detailed instructions here

If you need further assistance reach back out.