MarilynG1
Expert Alumni

Get your taxes done using TurboTax

If you indicated in TurboTax that you will withdraw your Excess Roth Contribution (plus earnings) before the tax filing date, you should not incur a penalty (or be taxed on that amount).

 

You can create a 1099-R to enter in TurboTax to report this, with Box 1 showing the amount of the Excess Contribution plus Earnings, and Box 2 showing only the Earnings amount. 

 

In Box 7, use Codes P and J.

 

When asked What Year is your 1099-R, enter 2025. 

 

Here's more info on Creating 1099-R to Report Excess Contribution and Earnings. 

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