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Get your taxes done using TurboTax
Thank you. When completing my taxes with Turbotax, I received the warning that income exceeded the allowable limit for Roth contributions. It asked me to enter the amount of withdrawal from my Roth. When I enter the amount it asks for a reason for withdrawal. The options provided for a reason do not include withdrawal of excess contributions and therefore they are being shown as taxable.
When filing my return for 2021, what is the proper way to reflect the withdrawal of the contribution and earnings so that I'm not being penalized for an early withdrawal?
March 9, 2022
2:18 PM