I mistakenly contributed $458 to a Roth IRA that did not qualify in 2017. I am being refunded in 2018 for that amount plus a small amount of earnings ($18). Since I have already filed my 2017 taxes, how can I amend my 2017 return in Turbo Tax to reflect that amount? How will I report the refund on my 2018 return?
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Wait until your 2017 return is processed before amending, and be sure to save a copy of your original filed return.
In 2018, you will receive a 1099-R with a code in Box 7 indicating a return of excess contribution, plus earnings.
You could wait for this before amending your 2017 return.
You don't carry the excess forward into your 2018 return.
Edited 3/10/18 1:37 PM
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