@DianeC958 @dmertz
Hello there,
I am a little late to the party but would appreciate any timely help as we are only a few days away from filing taxes:
Context: I realized I made excess Roth contributions in 2019 and early 2020 and got them removed from my financial institution in time before tax filing deadline (Some of the contribution was in 2019 and some in 2020). However, I have not received any 1099R/other tax forms from them yet! I am not sure how to report this in my 2019 tax filing and avoid any penalties.
Question:
1) I have TurboTax premier but am not sure how to report and account for this excess removal for 2019 and 2020? I had a net loss when I removed the contributions and earnings from these contributions. Do I need to wait till next year (2021) when I file taxes for 2020 to report this? OR is there a way for me to do it for 2019 tax filing so I dont incur any penalties. Please advise on what form to fill and where to fill info in TurboTax!
2) I also have excess roth contributions I need to correct from 2017 and 2018. How do I do that using turbotax. Can you please advise?
