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Level 1
posted May 31, 2019 10:22:11 PM

Report excess IRA Contribution again, or is it fixed?

Made an excess contribution to both my wife's and mine Roth IRA's in 2015....Didn't realize until mid year 2016....Removed the excess contribution and interest from the accounts.  Received a 1099-R for both our accounts, when I went to enter in TT 2016 it advised I needed to amend my 2015 year return...Which I did, entered both 1099-R printed and mailed in a payment....
Back to doing my 2016 taxes, in the Roth IRA section they ask me to enter "Excess Roth IRA contributions for prior years"...Do I put this amount their again?  Or do I put zero since I corrected and amended my 2015 return to address the excess contribution?

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1 Best answer
Level 15
May 31, 2019 10:22:12 PM

You enter zero (or leave it blank).  Because you resolved the excess contributions for 2015, you have not carried any excess contributions into 2016.

2 Replies
Level 15
May 31, 2019 10:22:12 PM

You enter zero (or leave it blank).  Because you resolved the excess contributions for 2015, you have not carried any excess contributions into 2016.

Level 1
May 31, 2019 10:22:14 PM

dmertz....Thanks so MUCH!