You do need to report the earnings on your 2024 tax return. You can do that by entering in a substitute Form 1099-R:
To enter a refund of excess IRA contributions received in 2025 for 2024 contributions on your 2024 return, follow these steps:
- Go to the personal income section of TurboTax
- Find the Retirement Plans and Social Security menu option in the Wages and Income section of TurboTax
- Start or Update IRA, 401(k), Pension Plan Withdrawals (1099-R)
- Choose Add Another 1099-R
- Choose I'll type it in myself
- On the screen that says Tell Us Which 1099-R You Have choose I need to prepare a Substitute 1099-R
- Enter the distribution amount in box 1 of the substitute 1099-R
- Enter the earnings in box 2(a)
- Enter code "8" in box 7
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
