Hi, I am in this excess contribution return situation.
I made normal contribution 6500 to my 2023 traditional IRA in 2023, then realized that I was not eligible to contribute due to no earned income. So I withdrew the 6500 contribution shortly after still in 2023. Now I have 1099-R with the same distributed amount 6500 in both 1 and 2a with "taxable amount not determined" checked. box 7 has codes both 8 and 1. 6500 in 2a is excess contribution returned, not the earning part. Let's say my earning is zero. I was not given the option to input in Turbotax what is the actual earning amount. 6500 in 2a is automatically transfered to 4b as taxable amount that adds into my income.
I have already put the 6500 in "pay for any expense -> corrective distribution before due date", but it only removes the 10% penalty.
My question is where I could adjust the taxable amount to the correct earning?
Thanks in advance.
