If you are getting a penalty on Form 5329 line 25 then it might be that you had an excess contribution value carried over from 2020. If you had an excess contribution but removed it in 2021 then you do not have a 6% penalty for 2021. Login to your TurboTax Account Click on "Search" on the top right and type “IRA contributions” Click on “Jump to IRA contributions" Select “Roth IRA” On the "Enter Excess Contributions" screen delete any entry If this doesn't help please provide more detail where you are seeing that tax.

Question

Why do I have additional Roth IRA Taxes due? I did not recharacterize or convert a traditional IRA, withdrawal from the Roth IRA, or contribute beyond my limit.

Forum|Forum|4 years ago
March 12, 2022
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DanaB27

If you are getting a penalty on Form 5329 line 25 then it might be that you had an excess contribution value carried over from 2020. If you had an excess contribution but removed it in 2021 then you do not have a 6% penalty for 2021.