In 2017, I made a mistake depositing into a Roth IRA after contributing $6,500 to a traditional IRA. Turbo Tax is telling me that I need to amend my 2017 return.

[macuser_22]

Did you receive a 2018 1099-R?
What code is on box 7?

Was the excess removed before Apr 15, 2018 or Oct 15, 2018 if you filed on time or filed a timely extension?

[ckjn]

A check to close the account was sent on April 16, 2018.  I filed 2017 on time.

[ckjn]

The code is PJ in Box 7.

[macuser_22 · Accepted solution]

A PJ box 7 code requires an amended 2017 tax return to report it as 2017 income.  Only the box 2a amount would be taxable (any earnings) , not your own contribution (box 1 plus earnings).

If you are over 59 1/2 then on the "Lets see if we can lower your tax bill" enter the box 2a amount in the "Another Reason" box to eliminate the 10% early withdrawal penalty on the earnings.

Amended returns can only be mailed. It is suggested that it be mailed certified with return receipt (or other tracking service) to verify that the IRS receives it.


https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed

https://ttlc.intuit.com/replies/3288565

You can check the status of the amended return here, but allow 3 weeks after mailing.

https://www.irs.gov/filing/individuals/amended-returns-form-1040-x-/wheres-my-amended-return-1