linette
Level 5

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.

View solution in original post