Hi Dana,
I have found myself in a similar situation to the above posters and am confused on how to best take care of everything in TurboTax.
In Jan 2021, I put 6K into my ROTH IRA as I had previously been below the income limit. At the end of the year, I took a new job and my income was pushed over the limit. In Feb 2022 (pre filing 2021 taxes), I filed an excess contribution withdrawl and removed $6778 (6k+ 778 earnings). When I withdrew these, I opted to withold some tax because Vanguard required it for Federeal and I opted to do it for State as well (10% each).
Now my question is how to enter these into turbotax. Should I put that I contributed to a ROTH IRA and then say I contributed 6k or 0? Would the excess contribution be 6k? Would the contributions withdrawn be 6778?
Because I removed this before the tax deadline, do I need to create/make sure there is a 5329? Since I witheld state and federal tax on the earnings, should I create the 1099R now per your above instructions or will I need to ammend these later anyways because box 4 and 14 will be checked?
Thank you in advance for your help!
Chris
