dmertz
Level 15

Retirement tax questions

No, do not enter it as a prior-year excess contribution.  (This question asks for excess contributions make for years prior to 2020, not for contributions made for 2020.)  Enter the Roth IRA contribution under Deductions & Credits, then, when TurboTax indicates that you have an excess $2,600 Roth IRA contribution, indicate that you had $2,600 (not the gain/loss-adjusted amount) returned.  TurboTax will prompt you to prepare an explanation statement.  Separately you'll enter the anticipated code PJ 2021 Form 1099-R.