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Solved

1099R for Roth Over Contribution

Forum|Forum|1 year ago
February 23, 2025
1 reply
21 views

Hello,

We over contributed to two Roth accounts in 2023 and withdrew all the funds in 2024. We received two 1099Rs for 2024. We uploaded them as part of our 2024 taxes. Do we have to amend Federal or State taxes for 2023? Or does simply uploading them as part of our 2024 package suffice?

Best answer by AnnetteB6

If the Form 1099-R that you received from the distribution of the excess contribution includes any earnings, then you will need to amend your 2023 tax return to add the earnings to your income for 2023. If there were no earnings and only the original contribution amount was reported on the Form 1099-R, then including it on your 2024 return is all that is required. TurboTax should give you some messages onscreen to let you know what your next step should be.

To learn more, take a look at the following TurboTax help articles:

What happens if I made an excess Roth IRA contribution because my modified adjusted gross income is too high?

How do I amend my federal tax return for a prior year?

AnnetteB6Answer

Level 15

If the Form 1099-R that you received from the distribution of the excess contribution includes any earnings, then you will need to amend your 2023 tax return to add the earnings to your income for 2023. If there were no earnings and only the original contribution amount was reported on the Form 1099-R, then including it on your 2024 return is all that is required. TurboTax should give you some messages onscreen to let you know what your next step should be.

To learn more, take a look at the following TurboTax help articles:

What happens if I made an excess Roth IRA contribution because my modified adjusted gross income is too high?

How do I amend my federal tax return for a prior year?

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