Retirement tax questions

Since your Form 1099-R will not arrive until 2027, here is how to manually report your earnings on your 2025 tax return:

First, determine the taxable amount. Only the earnings are taxable because the amount of the excess contribution was already taxed before it went into the Roth IRA.

Next, you will report the earnings even though you don't yet have the Form by following these steps.

1. Go to Income on the left panel within your TurboTax account
2. Click on the +Add more income box
3. Scroll down to Retirement Plans and Social Security and click the down arrow to expand
4. Click Start to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R)
5. Click on +Add a 1099-R, select the Enter a different way box, then Type it in myself
6. On the next screen, you can select Type it in myself, or other options, then Continue
7. Select the box on the top left for Financial institution or other provider (1099-R), then Continue
8. Enter the provider's information, then Continue
9. Enter the details from your Form 1099-R, enter total distribution in Box 1 and only the earnings in Box 2a
10. Ensure the IRA/SEP/SIMPLE box is unchecked
11. Use Distribution Code J & P in Box 7, then Continue
12. Choose Year 2026 as the year on your Form 1099-R
13. Continue until, "Tell us which person may have qualified for a penalty exception" and select the pencil symbol
14. Next, on the, "These situations may lower your tax bill" screen, enter the amount of earnings under, "Corrective distributions made before the due date..."