fubark
Returning Member

Get your taxes done using TurboTax

I also have an excess contribution in 2019 but, in my case, my IRA has declined in value since that contribution. I have not withdrawn anything yet and I have not filed my taxes for 2019 yet. If I understand the instructions correctly, I should withdraw the amount  equal to my contribution MINUS the loss since that contribution. When I to enter this amount into TurboTax, it says that I still have an excess contribution in the amount of that loss. Where do I designate this amount as part of my withdrawal and non-taxable?