In early 2024 I made an $8000 Traditional non-deductible contribution (for the 2024 tax year) to my IRA. Several months later I realized I needed that money back for another important purpose (long story). So this really wasn't a return of an "Excess contribution". The company returned the money to me plus the earnings on that money of $266 and they told me the earnings portion would be taxable. Sure enough when I recently got the 1099-R it correctly showed an $8266 distribution (box 1) but only a $266 TAXABLE distribution (box 2a). My question is when Turbo Tax asks me if I made an IRA contribution for 2024 should I put $8000 or simply leave it blank? I lean towards leaving it blank but not sure. I know IRA companies have to publish a form 5498 and I'm also not sure if they will include that $8000 contribution on that form or not........that form typically doesn't show up until May.
