Online Turbo Tax and Roth IRA overcontribution

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Fomalhaut
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Joined: Tue Oct 01, 2019 10:53 am

Online Turbo Tax and Roth IRA overcontribution

Post by Fomalhaut »

I've used Turbo Tax online for years, but I've never faced this situation. In 2016, I unknowingly over-contributed to my Roth IRA in 2016. I realized this and removed the required amount in 2020, but long after I filed my tax return for that year. So I'd like to send in the required documentation for tax year 2020 (this year).

I assume I need to file form 5329, but what version do I need to file in order to get access to the 5329? Because of the lower salary I've had since 2015, I've only had to file a 1040EZ, though I've done the 1040 many times in the past. I know there will be penalties, I just want have it done correctly so I don't have to worry about it anymore.
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