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Retirement tax questions
Did you enter your IRA contribution that you removed as an excess contribution? If you didn't report a non-deductible contribution the program won't know that you had any basis in your IRA. If you didn't report the contribution, you need to do so. Once you report a non-deductible contribution of $7,000, your withdrawal of excess contribution should no longer be showing as taxable.
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March 19, 2025
5:51 PM