@goblue10 wrote:
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?
If you made a Roth contribution in 2021, and then withdrew it as excess before the filing deadline, then you didn't really make a Roth contribution at all. You don't report a contribution and a withdrawal, you simply don't report anything.
