- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You can report the return of excess IRA contribution on your 2024 tax return so you don't have to amend it when you receive the 1099-R form in 2025.
To enter a refund of excess IRA contributions received in 2025 for 2024 contributions on your 2024 return, follow these steps:
- Go to the personal income section of TurboTax
- Find the Retirement Plans and Social Security menu option in the Wages and Income section of TurboTax
- Start or Update IRA, 401(k), Pension Plan Withdrawals (1099-R)
- Choose Add Another 1099-R
- Choose I'll type it in myself
- On the screen that says Tell Us Which 1099-R You Have choose I need to prepare a Substitute 1099-R
- Enter the distribution amount in box 1 of the substitute 1099-R
- Enter the earnings in box 2(a)
- Enter code "P" in box 7
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 5, 2025
12:31 PM