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Level 1
posted Mar 24, 2020 8:16:55 PM

I exceeded my Roth IRA contribution limit for 2019, and then withdrew the contribution. Should I enter the original contribution amount when asked for 2019 contributions?

0 2 452
2 Replies
Expert Alumni
Mar 24, 2020 8:33:40 PM

If you made the withdrawal, you can either subtract for your annual contribution- or enter the full amount and TurboTax will tell you you were over and ask if you are going to withdraw the excess so the additional penalty is not added.

Level 15
Mar 24, 2020 8:52:45 PM

If you remove the contribution then there is no reason to enter it at all since Roth contribution do not go on a tax return.