- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Hi, all,
I believe this is a bug in TurboTax (in both desktop and on-line versions). I usedProConnect (another software by Intuit). The treatments are very different.
Background: The over-contributed $130 in the year 2021 was withdrawn in the year 2022. In 1099-SA, box 3 has code "2-Excess contributions" as the distribution code.
In TurboTax's 8889 form, $130 is not taxable.
Therefore, in 5329, I continued to have $130 excess contribution.
And, the $130 is never added to my income in the year 2022.
However, ProConnect treated it differently. In 8889, $130 distribution is considered taxable.
Then, I no longer have excess contributions in 5329 after the year 2022.
Furthermore, $130 is added to my total income.
Any comments are welcome.