Horsecamper
Returning Member

How do I claim the Roth IRA deduction exception?

Last year the IRS told me I overpaid my Roth IRA contributions because I didn't have enough AGincome, so with the help of my brokerage firm, they transferred the excess out of my Roth into my regular investment account. Now the 1099-R from them is showing a distribution that, even though it says on line 2a is non-taxable, is coming up as income on my Turbotax return at the very end. I'm also not getting any deduction for the additional $4000 I contributed this year, so it seems like a double whammy. I've tried everything I can think of, but nothing is working. I thought maybe I would qualify under one of the exceptions, but can't find where to do that. I sure could use some help figuring this out!