linette
Level 5
03-15-2020
12:58 PM
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I think you are right at $240.
Unless there was additional excess contributions in 2019.
Start with the penalty amount of $480 and try to follow it backwards. It sounds like somewhere there is an addtional $4,000 entered in the wrong place.
Also review the IRA contribution worksheet. Sometimes I can find links there or entries there that by following will take me to the source.
Another place to look is the carryforward information.
This is a tough one if it is really resulting from computer carryforward as it may not be somewhere in the system that we are familiar with entering.