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Level 2

Question

Removal Excess Roth IRA Contribution count as income in NJ

Forum|Forum|2 years ago
February 11, 2024
1 reply
2 views

I'm using TurboTax Deluxe 2023 for Mac.

I have 2023 1099-R for Removal 2022 Excess Roth IRA Contribution and TurboTax adds the amount ($7000) to my 2023 NJ income. I already paid tax on that $7000, . I removed it since my income was over the limit when using TurboTax filling in early 2023. Why TurboTax makes me pay NJ tax again on the same $7000?

IRA

Level 15

What about Federal 1040?

Is it listing $7,000 there also?

The taxable amount in NJ comes from Form 1040.

penglin228Author

Level 2

Federal 1040:

4a IRA Distribution=$7,000

4b Taxable amount=$0

NJ 1040:

20a Taxable pension, annuities and IRA distributions/withdraws=$7000

20b Excludable pension, annuities and IRA distributions/withdraws=$0

2023 1099R code = 8,J

Level 15

You checked the IRA/SEP/SIMPLE box.

for a Roth IRA, that is not set.