You should check with you financial institution since they often issue a 2025 Form 1099-R with code 8J for contribution made in 2025 even though they were a contributions for 2024. Most likely you will get two 2025 Form 1099-Rs one with code PJ for the contributions made in 2024 and one with code 8J for the contribution made in 2025 for 2024. It might be best to wait until you receive the 2025 Form 1099-R in 2026.
Generally, only the earnings are taxable and when you had no earnings all that TurboTax does is add an explanation statement.
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