Hello, I am over 60 and self-employed. I usually deposit $5000 into my Roth IRA every January, which I did in January 2021. In late 2020, my husband sold a rental property and that profit bumped our income up so that I was forced to take a $2000 withdrawal from that IRA last year when I was doing our 2020 taxes. In other words, our income was too large for me to be able to make that full $5000 contribution for 2020. This $2000 was distributed to me in 2021.
Now that I am working on 2021 taxes, I have my 1099-R, showing that I withdrew the money.
On the TT screen showing IRA contributions, do I enter $3000 (my net contribution) or on 2 separate screens, show the $5000 inital contribution and the $2000 withdrawal (distribution)?
TIA for your help. If I need to provide more info, please let me know.
