Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

jcrawford0567 · ‎February 6, 2020

VictorW9 · ‎February 6, 2020

There is no profit to report. What you needed to do is withdraw the excess contributions and their earnings by the tax filing deadline - usually April 15.

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fanfare · ‎February 6, 2020

You have removed excess contribution prior to the filing deadline for your tax return.

Per IRS Pub 590A : The earnings (profit) are considered earned and received in the year the excess contribution was made.

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Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

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Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

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Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

Tax Year Prior to 2020: I made a Roth IRA contribution for 2019 and 2020. I was told by turbo tax that I earn too much and need to pull those out so I did. Where do I enter the profit?

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