I have not filed my return for 2018, but plan to do so this week.
I had excess contributions to a Roth IRA in 2018. The excess contributions and associated earnings were withdrawn in March 2019. This will be reflected in a 2019 Form 1099-R, which I will receive in time to support preparation of my tax return for 2019, not my return for 2019.
It is my understanding that:
- The excess contribution will be treated as an amount not contributed
- I need to report the earnings as income for 2018 (the tax year during which the excess contributions were made)
It is unclear to me how to reflect this in TurboTax for my 2018 return. Please help!
