Backdoor Roth 2023 + 2024 problem - excess

darbyrothandhuey
darbyrothandhuey Member Posts: 1 Newcomer
in Income

Before filing my 2023 taxes in March 2024, I did two backdoor roths. One for 2023 for 6500, and one for 7000 for 2024. I did this because I was just starting doing Roths and I saw that I had until April to make the 2023 contribution. I followed a guide and thought I did it right. However now FreeTaxUSA is saying "Excess Traditional IRA Contributions. You have $6,508 of excess traditional IRA contributions." What do I do? There wasn't a spot for me to enter the 2023 contribution separately that I can see. Thanks for the help!

Answers

  • RyanZ
    RyanZ FreeTaxUSA Agent Posts: 76

    It sounds like the $6,500 Traditional IRA contribution might have been entered twice in the 2023 software, possibly as a Traditional IRA contribution and then a Roth IRA contribution that was recharacterized as a Traditional IRA contribution.

    I recommend that you contact Support from within your FreeTaxUSA account for assistance. They can look at what you entered and advise you of corrections.

Categories