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stevejgross
New Member

Received a Roth IRA distribution in 2018 - a return of 2018 excess contributions. turbotax is taxing the distribution and applying a 10% penalty. how do i correct ?

i entered info when asked by TT to indicate a return of excess contribution, but TT is still taxing the amount and applying penalty. this was return of after tax Roth contributions - all in the same year, so should not be taxed. 

1 Reply
MarilynG
Expert Alumni

Received a Roth IRA distribution in 2018 - a return of 2018 excess contributions. turbotax is taxing the distribution and applying a 10% penalty. how do i correct ?

Be sure to enter the same amount for 'excess Roth contribution' and amount returned to you.

Here's more info:

https://ttlc.intuit.com/replies/7205181

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