Hi:
I have some follow up questions regarding paying taxes on interest of ROTH excess withdrawal. I got the 1099R for the ROTH excess which I withdrew last year before filing, and did the IRA Contribution worksheet in the 2019 Turbotax which shows:
25 Roth IRA contributions. Combine lines 20 through 24 7,000.
26 Enter any contribution included on line 25 withdrawn before
the due date of the tax return. See Help 7,000.
27 Excess Roth IRA contribution credit
28 Total Roth IRA contributions 0.
So this year, I got the 1099R for the earnings of the above contribution, which I withdrew at the same time with the Excess contribution.
I understand from the previous messages that I need to amend my 2019 tax. Since Turbotax automatically pulled in my tax information from my brokerage, how would I single out the 1099R for the Roth distribution for the 2019 tax amendment, and excluding it from the 2020 tax? Or can I just pay the ROTH excess contribution gain tax as part of the 2020 Turbotax filing? If I need to do the 2019 amendment "manually" in Turbotax, how would I enter the information for the 1099R? And would I need to remove this information from the 2020 Tax?
Thank you very much for your help.
