ThomasM125
Expert Alumni

After you file

You took the excess contribution out of your ROTH IRA for tax year 2020, so you need to pay tax on the earnings plus a penalty for early withdrawal for 2020.

 

You need to amend your 2020 tax return to report the 1099-R form. TurboTax will calculate the tax and penalty. You can leave the rest of your 2020 tax return alone.

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