neo_rp
New Member

How can I report excess contribution made in 2018 for roth applied to 2017? Found out the income will not let us qualify for Roth. How do I report to 2017 1040 taxes?

we made roth contribution in 2018 for 2017, thinking we will qualify. as we enter information in Turbo tax, it tells us we DO NOT qualify. We informed the broker to back it out, and were told it will be "Return Excess contribution" as distribution. How should we report in 2017 tax return?