knicksfan
Returning Member

Roth IRA Excess Contribution

I overcontributed to my Roth IRA in 2020. In 2021, I requested a return of excess from my Roth IRA custodian. Below are the details:

 

Overcontribution Amount: $600

Gross Amount Received Back: $782.36

Taxes Withheld (don't know if it's Federal or State): $18.23

Net Amount Received Back: $764.13

 

They said I will receive my 1099-R next year, but I believe I need to include the earnings in my 2020 taxes. How do I report this on TurboTax and should I be reporting the gross amount received or the net amount?