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Retirement tax questions
When you enter the ROTH IRA contribution, TurboTax will tell you if you have an excess contribution and give you an opportunity to indicate that you withdrew it by the due date of your tax return. If you indicate that you withdrew it, you should not get a penalty.
The form 1099-R should just show the income earned on the funds as taxable in box 2(a). Is this what happened?
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‎February 24, 2022
4:10 PM