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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.
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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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