DavidD66
Expert Alumni

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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