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Need to remove Form 5329 from my tax return.
While completing my 2014 tax return I realized I had an excess contribution to my Roth IRA. So in 2015 I removed the excess contribution and paid taxes on earnings etc . When I went to complete my 2015 tax return, I neglected to fill in Line 20 of form 5329 to show the excess contribution was removed. So I filled a 1040X (2015 Return) outside Turbo Tax to recoup the additional tax I paid as a result. Because I did not complete the 1040X in Turbo Tax, while completing my 2016 Tax Return, Turbo Tax does not recognize that I withdrew the excess contribution and continues to prompt me for Form 5329. Is there any way to correct this within Turbo Tax so when I complete next years (2017) tax return, it does not prompt me to fill out Form 5329? Hope this is clear. Thanks
Andy
Andy
Topics:
‎June 1, 2019
1:13 AM