Thank you so much @Vanessa A
I have a follow up question to the example:
@Vanessa A wrote:
However, if you paid in $5,000 throughout the years, but you received $8,000, then $3,000 would be taxable (5,000-8,000).
Any earnings you receive on the contributions are taxable.
How to report this $3000 in Turbo Tax 2022 Premier? (i.e., Is it considered miscellaneous income? or interest? or dividend? How shall this be reported)?
Greatly appreciate your help.
