Removal Excess Roth IRA Contribution count as income in NJ

I'm using TurboTax Deluxe 2023 for Mac.

I have 2023 1099-R for Removal 2022 Excess Roth IRA Contribution and TurboTax adds the amount ($7000) to my 2023 NJ income. I already paid tax on that $7000, . I removed it since my income was over the limit when using TurboTax filling in early 2023. Why TurboTax makes me pay NJ tax again on the same $7000?

809

Level 15

Feb 10, 2024 7:43:57 PM

What about Federal 1040?

Is it listing $7,000 there also?

The taxable amount in NJ comes from Form 1040.

@penglin228

Returning Member

Feb 10, 2024 7:57:52 PM

Federal 1040:

4a IRA Distribution=$7,000

4b Taxable amount=$0

NJ 1040:

20a Taxable pension, annuities and IRA distributions/withdraws=$7000

20b Excludable pension, annuities and IRA distributions/withdraws=$0

2023 1099R code = 8,J

Level 15

Feb 10, 2024 9:24:56 PM

You checked the IRA/SEP/SIMPLE box.

for a Roth IRA, that is not set.

@penglin228

Returning Member

Feb 11, 2024 4:47:37 AM

IRA/SEP/SIMPLE box not checked on 1099-R.

Level 15

Feb 11, 2024 4:51:07 AM

did you check the entry as it appears in TurboTax ?

@penglin228

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Removal Excess Roth IRA Contribution count as income in NJ