MarilynG1
Expert Alumni

Retirement tax questions

Yes, tell TurboTax that the excess (due to earnings) has been removed so a penalty is not applied and the excess does not carry forward.

 

You will receive a 1099R in 2022  to report your 2021 tax year. The 1099R will show the amount of the total Distribution plus the excess earnings amount in Box 1 and then show just the taxable amount of the distribution in Box 2A, which should just be the excess earnings amount.

 

Click this link for more info on Excess Roth IRA Contribution

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"