Excess contribution to Roth

[joansnyder99]

I had excess contributions to my Roth IRA in 2023 based on not meeting earned income level.  I removed the excess contribution and the earnings prior to filing my tax statements (in April 2024).  Both excess contribution and earnings were re-deposited in the same Roth account to be used as a contribution for 2024.  I now received a 1099-R for the excess contribution with distribution codes J, P.  

I believe that all I need to do is file an amended 2023 return to report the earnings.  When I tried to enter this under 1099-R info on my 2023, it states I do not need to report that earnings income since it was removed prior and placed back in same account.  I'm thinking I need to file this on "other income" section and file an amended return now - is that correct?

Thanks in advance!

[MaryK4]

Because you made the withdrawal in 2024, the earnings are reported as income on your 2024 tax return.  You can enter the 1099-R on this year's return and TurboTax will include the amount on the 2024 return.  Because you withdrew the amount in April for the 2023 contribution, you corrected the account and did not incur the additional penalty so you do not have to amend the 2023 return.