We both made excess ROTH IRA Contributions unaware that only “earned” income could be contributed to a ROTH IRA. To avoid the penalties, we will withdraw the excess. If I read the information correctly to avoid filling an amended 2024 return, I will pretend I have a 1099-R for the excess amount of $1500.00 ea.
I am not sure if I should enter an 8 or a P for the code? Then create the two additional 1009R’s via TurboTax. I already have one “legitimate” 1099R from the same entity so do I now have three 1099R’s from the same entity on my tax return.
