Thank you macuser_22 for all detail information. Reg 5329 , I am not able to see that form in my TurboTax Delux Software, if you can guide me where I can see it.
I am 40 year old and have deposited $5500 into my wife traditional IRA account in ~Dec 2019 for 2019 year contribution, but due to total gross salary exceeded its limit, I cannot take tax advantage on that deposit, so requested to withdraw [non-deductable / excess contribution]. Fidelity sent me excess contribution amount $5500 and earnings [ $11.05 ] along with a letter, and Fidelity will send my 1099-R form in Jan 2021. I think I have to file this withdrawal in 2019 tax filling, right ? Can I file TAX online using TurboTax or I have to file paper base due to form 5329? If online I can file, then where I can find this form in Turbo TAX delux SW, as not seeing it anywhere. Do I have to file any other form along with 5329 ?
Note: My wife is working part time and her employer doesn't cover "Retirement Plan at Work", so I created her traditional IRA account.
