All Posts

Need Help with 2 questions for 2025 tax return:  Question 1, Excess Roth Contribution in 2024: 2024 $8,000 Excess ROTH contribution removed on 2/19/2025 BEFORE I filed the 2024 tax returns.  I created a 1099-R for the excess Roth contribution removal (Box1, gross distribution $8,461.45, $461.45 NIA in box 2a Taxable amount, entered codes J & P in box 7).   In the Wages & Income screen of Turbo Tax I typed the explanation "Corrective distributions made before the due date of the return".   On the Form 1040 Line 4a: $8,461.45 gross distribution, line 4b: $461.45 taxable.  I filed the tax return on 3/24/2025. Received the 2025 Form1099-R last week, it has the same identical information as the 1099-R I created on 3/24/2025 when I filed the tax return:  Box1, gross distribution $8,461.45,  $461.45 NIA (box 2a Taxable amount), codes J & P in box 7. Should I disregard this 2025 1099R?   Question 2, Excess HSA contribution in 2024: Fell into the Medicare trap that wasn't discovered until May 2025 (after I filed the 2024 taxes).  I contributed $4,660 for all 12 months in 2024 only to find out that I was not eligible to contribute in November & December 2024 because I filed for Medicare to start on 8/1/2025.  $777 excess HSA contribution + 19 cents earnings were removed 5/23/2025 by Health Equity.  I filed Amended tax return in June 2025 with a heading "Filed Pursuant to Section 301.9100-2" on the front page of Form 1040-X and paid the additional tax attributed to the $777 income (IRS had extended the tax filing deadline to North Carolina residents affected by Hurricane Helene so there was no penalty for late filing).  I had to manually entered $777 on the Form 8889 smart worksheet to make the numbers work on that form. I MAILED the Amended tax return + the check for additional tax in June 2025 to the IRS because Turbo Tax couldn't file it electronically probably due to the manually entered Form 8889.  The IRS accepted and completed my Amended Tax Return on 9/15/2025.     I just received two 2025 Form 1099-SAs from Health Equity: 1st 1099-SA is for normal distribution $600 medical expenses reimbursement in 2025, distribution code 1 in box 3 2nd 1099-SA is for the $777.19 gross distribution (box1), 19 cents in box 2 Earnings on Excess Contribution,  Distribution code 2 in box 3 Should I disregard the 2nd 1099-SA that shows $777.19?   I haven't entered data into Turbo Tax, waiting for W-2 and the rest of 1099s.  I did upload the Amended Tax Return, not sure if Turbo Tax will know I had already paid the taxes incurred on the additional $777.19 withdrawal from the HSA.    Will the IRS know to disregard the 1099-R ($8,461.45) and the 1099-SA ($777.19)?  It was a challenge to do the Amended Tax Return but I somehow did it scouring advices from this forum.   I just need to get with the 2025 tax return as my future tax returns are much simpler.  Thanks for your help in advance.

I’m confused on what to enter on TurboTax for my Virginia (state) taxes. I received a 1099-R form due to an inherited IRA account after a loved one’s death. On the section of my state tax return it asks to enter taxable death benefits. Do I enter the entire payment amount I received?  Do I enter the amount that was withheld by Virginia?     *My federal return was entered fine with it. I will also note that entering the information from the 1099-R reduced my federal significantly.   thank you for anyone who can assist. I truly appreciate this.