In Fall of 2024 I removed a 2022 Roth IRA overcontribution of 5400$ via my financial institution. Since this was after the tax deadline, the contribution was removed without computing any gains. Since I wanted to deal with my 2023 taxes before the Oct 2024 extension deadline I manually dealt with this overcontribution and filed a 5329 to pay the 6% excise penalty. Fast forward to this year, I now have a 1099-R that has the 5400 listed under code J and a the no gains computed box checked. I know that I also need to pay the 6% penalty this year as well since the money wasn't withdrawn until late 2024. If I enter this in turbotax as a1099-R it is catagorizing it as an early withdrawal with the associated penalty since it only has code J. I see a place to enter funds withdrawn for corrective reasons before the tax deadline, but not something for after the tax deadline. How do I handle this in turbo tax? Should I enter this as a 1099-R or handle it another way manually? Thanks for any help!
