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Get your taxes done using TurboTax
Chiming in here. I answered NO to the question of not withdrawing as advised above, because I am carrying over my excess contribution to the next year- 2020. However, my concern is that the excess amount i am carrying over is showing as my gross income for 2019 (because TT thinks i actually withdrew the money vs carried it over??)
How do I prevent this? My total income for the year 2019 should NOT include this amount, correct? It seems like I am being charged Federal taxes on it as if it was my income?!
‎July 14, 2020
10:16 PM