In 2021 I contributed $1500 to my Roth IRA. Unfortunately, due to a taxable distribution I didn't know about at the time, it turned out I was not eligible to make a Roth contribution in 2021.
While preparing my 2021 taxes using TurboTax, I realized my error, contacted my financial institution (Vanguard), and asked for the excess contribution to be withdrawn.
The Vanguard rep explained to me that I would also have to withdraw any earnings on the $1500 excess contribution. But, due to the market downturn in 2022, the value of the $1500 original contribution was now $1091, and this is the amount that Vanguard withdrew from the Roth account.
How do I report this on my 2021 tax return using TurboTax?
