- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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 I have not withdrawn anything yet and I have not filed my taxes for 2019 yet.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?
March 25, 2020
10:08 AM