Please follow the directions below to record this excess contribution withdrawal.
1. Enter the amount of your original contribution.
2. When TurboTax indicates that you have an excess
contribution, enter the amount that you've returned as an excess
contribution in the box labeled Excess Contribution Withdrawn Before Due
Date of Your Return.
3. TurboTax will now treat your contribution amount correctly.
4. At some point, TurboTax should ask you to
provide an explanation statement for the return of contribution, since
the Form 1099-R for this distribution will not be issued for another
year as a 2016 Form 1099-R.
