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aminhari
Level 2

Turbo Tax asking if I have done an excess contribution to Roth, but have already removed excess

Hi Team,

 

Would appreciate any help on this question: I see a question about whether I have contributed an excess amount to a Roth IRA in 2020 or earlier. If I have done so, but already conducted a removal of excess and paid the additional fees, etc. then how should we address this in Turbo tax? 

 

I imagine the answer is "No" because it was effectively removed from the record by conducting a removal of excess. Thanks for you help! @macuser_22 , @dmertz  do either of you know?

 

 

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Accepted Solutions
macuser_22
Level 15

Turbo Tax asking if I have done an excess contribution to Roth, but have already removed excess

If it has been removed then you do not have any outstanding excess so say no there is no excess.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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2 Replies
macuser_22
Level 15

Turbo Tax asking if I have done an excess contribution to Roth, but have already removed excess

If it has been removed then you do not have any outstanding excess so say no there is no excess.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

aminhari
Level 2

Turbo Tax asking if I have done an excess contribution to Roth, but have already removed excess

You're a legend @macuser_22 , thank you!

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