How to report an excess 2019 Roth IRA contribution?

bdonovan1 · ‎July 10, 2020

I accidentally contributed an excess $3220 to my Roth IRA for Tax Year 2019. Luckily, I caught this error and have since removed these excess contributions and changed them to be contributions for Tax Year 2020.

How would I report this in TurboTax? Would I report this $3220 excess contribution to my Roth IRA for Tax Year 2019 and then say that I removed it when prompted or could I just say I contributed $0 to my Roth IRA for Tax Year 2019 since it has been removed before the tax deadline?

Thanks!

macuser_22 · ‎July 10, 2020

Removing it is the same as never doing it in the first place. Do not enter anything for 2019.

**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.**

bdonovan1 · ‎July 10, 2020

Great. Thanks!

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How to report an excess 2019 Roth IRA contribution?