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Jan 21, 2020
4:38:12pm
zerigke Playmaker
Tax question for CB accountants
I am preparing my taxes on turbotax and I uploaded my W2 and Turbo tax is telling me that there is a $295.00 tax fee added to the taxes I owe for the year for "taking an early withdrawal or making an excess contribution to an IRA or other tax-favored account." I do not understand this as I did not take any money from my Roth IRA or 401k and do not have any other retirement accounts, and I did not contribute more than about 2400 to my Roth IRA in 2019.

What is causing TurboTax to tell me I have a penalty? Is there a line on my W2 that tells them this information and could it be a mistake?
zerigke
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Zerigke Ally Zerigke
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zerigke
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