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J
JEromanix
Level 3
June 23, 2026
Question

2025 form 5329 waiver of tax smart worksheet not working

  • June 23, 2026
  • 1 reply
  • 28 views

My taxpayer made a IRA Excess Contribution of 7,000 he is on extension to 10/15/2025 , we discovered the Error and have withdrawn the 7,000 excess plus earnings.

2025 form 5329 Waiver of tax smartsheet is not working, it is computing the 420 penalty

1 reply

T
Terry53029Intuit Community Champion
Intuit Community Champion
June 23, 2026

you only have until due date of return plus extensions. You say his extension was 10/15/2025 ( I assume it was for a causality) it is now 6/23/2026, so you did not file on time. if your client removed excess before due date you do not fill out 5329. (see instructions for 5329)

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