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New Member
posted Jul 10, 2020 10:43:29 AM

How to report an excess 2019 Roth IRA contribution?

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!

0 2 366
2 Replies
Level 15
Jul 10, 2020 11:31:37 AM

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

New Member
Jul 10, 2020 12:15:43 PM

Great. Thanks!