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Retirement tax questions
Since you don't have any gain on the ROTH and you withdrew the funds before the due date of your tax return, there won't be any tax to pay on it in 2022, so you don't need to report the distribution on your 2022 tax return. You should go back and correct the entry reporting the IRA contribution. For 2023 you will get a form 1099-R in 2024 reporting the distribution, with the amount returned in box 1 and a code P in box 7. When you report this in TurboTax, it will not show as taxable on your 2023 tax return.
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March 20, 2023
8:21 PM