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R
ridwaany
February 19, 2025
Question

I don’t have a Roth IRA, why did TurboTax indicate that I need to put a value for excess Roth IRA contribution?

  • February 19, 2025
  • 1 reply
  • 0 views
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    1 reply

    T
    ThomasM125
    February 19, 2025

    The excess contribution may have come from a previous year, as it is carried over until it is corrected. If not, you may be able to delete the form 5329 that reports the penalty on the contribution as follows:

     

    1. Choose the Tax Tools option on your left menu bar

    2. Choose Tools

    3. Choose the Delete a form option under Other Helpful links 

    4. Find the Form 5329 in the list and delete it

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