Solved: Re: 2023 roth ira over contribution

badattaxes1 · Feb 17, 2024 8:15:32 AM

Married Filing separately. for 2023 I opened a roth ira with 0 in it and funded the max(6500). gained 146.73 in the market. Realized I was ineligible and withdrew with excess contribution withdrawal form. This unfortunately didn't go thru until mid Jan of 2024. Filling out my taxes now I accounted for the ira contribution and subsequent withdraw of 6500 but it wont let me account for the additional earnings in that area I know I will get a 1099 r in Jan of 25 for the gains of 146.73(total of $6646.73). Couple questions because I have seen some similar threads Can't i just get the 1099 r and pay the tax on the earnings for 2024 next year? I don't want to have to file an amended return and saw a similar thread where some did unless they created another 1099 r which was also confusing. I am using turbo tax deluxe with live advice but wanted to put this out there for multiple responses. Thank you to all who respond.