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Get your taxes done using TurboTax
I'm in a similar situation but can't figure out how to fix in TT. Made excess non-deductible IRA contribution in 2019, withdrew in Feb 2020 plus $300 in earnings BEFORE I filed my 2020 return in April. Now I have a 2020 1099-R that shows the $300 as taxable (Box 7 Code P) and TT is telling me I need to amend 2019. But I can't figure out how to do that since it won't let me enter a 2020 1099-R into the 2019 Turbotax Software. Can I just let the IRS send me a bill? I'm 60+ so there is no early withdrawal penalty issue.
‎January 24, 2021
3:51 PM