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I withdrew a previous year's excess Roth IRA contribution. Excess penalty removed, but I expected tax hit for early withdrawal. Why is it not showing as taxable on 1040?
- Excess contribution in 2020
- Removed amount in 2022
- Turbotax correctly removed excess contribution penalty from 5329
- Shouldn't it be a taxable distribution on 1040 line 4? Turbotax is showing taxable amount as 0. What do I need to do different in Turbotax to get it listed correctly?
- Removed amount in 2022
- Turbotax correctly removed excess contribution penalty from 5329
- Shouldn't it be a taxable distribution on 1040 line 4? Turbotax is showing taxable amount as 0. What do I need to do different in Turbotax to get it listed correctly?
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‎February 17, 2023
2:54 PM