Yes, TurboTax will help you report the excess contribution and the withdrawal.
If you contribute too much to your IRA, you will be taxed 6% on your contribution that has exceeded the limit. Any contribution withdrawn on or before the return filing due date, which includes extensions, is treated as if it were not contributed. This treatment only applies if any earnings on the contributions are also withdrawn. The earnings are considered earned and received in the year the excess contribution was made and are taxable.
After you enter your Roth IRA Contributions, TurboTax will ask how much of the excess contribution you will withdraw before the due date of your tax return so the appropriate adjustment can be made.
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