Yes, you reported the 2018 withdrawal of excess contribution correctly on your 2018 tax return.
For the withdrawal of the 2019 excess contribution (plus earnings) please follow the steps below to enter them in TurboTax:
To create a 1099-R in your 2019 return please follow the steps below:
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R”
- Select "I'll type it in myself"
- Select "I need to prepare a substitute 1099-R"
- Box 1 enter total distribution (contribution plus earning)
- Box 2 enter the earnings
- Box 7 enter P and J
- On the "Which year on Form 1099-R" screen say that this is a 2020 1099-R.
- Continue until you get to the explanation screen and answer that you are reporting a 2020 1099-R on your 2019 tax return to avoid having to amend in 2019.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
