State tax filing

@bigslimdog 

 

here are two options to consider.

 

A) let TurboTax do its thing. it is calculating a prorated recovery. Accept the TurboTax results.

the amount will go into your turbotax history and the "recovery of contributions" will continue in future years.

 

B) you can defeat recovery by entering a humungous value for your IRAs, like $50,000,000.

Your recovered contributions should be zero. You will resume recovering contributions on future tax returns.

 

OR

 

C) you can continue in your efforts to make the "recovered contribution" exactly and strictly correct.

 

Worksheet C--

Line 1 includes contributions through 4/15.

Line 2 include distributions through the tax year ending 12/31

your removal of excess earnings is a distribution in 2022 but is taxable in the year for which the contribution was made.