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How do I report my excess Roth IRA contribution in 2015 if I withdrew my contribution in 2016 but before filing taxes?
In 2015, I made contributed $5,500 to my Roth IRA. In early 2016, before filing my 2015 tax return, I realized that my contribution was too high based on my income (should have only been a few hundred), so I transferred the $5,500 out of my Roth IRA (the actual amount was $5,269.01, I'm assuming due to losses). How do I report this in Turbo Tax Deluxe 2015? And what do I report in my 2016 return next year? Thanks for your help!
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‎June 3, 2019
10:34 AM