Investors & landlords

If you successfully informed TurboTax that you resolved the excess before Tax Day, there would not be a penalty.

Delete your entries and try again.

OR

Just don't report any of this on your tax return.

 

You can't resolve the excess prior to the tax return due date without the custodian's help. your action generates a 1099-R and can be a problem next year if you do it yourself.

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