When I removed the entire excess traditional IRA contribution before the penalty deadline and there was no earnings but loss, do I need to file Form 5329?

If I need to prepare Form 5329, all the lines on Form 5329 would show zero (0) because I removed the excess contribution timely. Do I still need to file Form 5329?

posted

No, you do not need to file this form when you withdraw the excess prior to the deadline.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I contributed to a Roth IRA in CY2024 but had no income then withdraw it and earnings in CY2025

in Retirement tax questions

Expert does your taxes

Do it yourself

Resources

Support

When I removed the entire excess traditional IRA contribution before the penalty deadline and there was no earnings but loss, do I need to file Form 5329?

When I removed the entire excess traditional IRA contribution before the penalty deadline and there was no earnings but loss, do I need to file Form 5329?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

When I removed the entire excess traditional IRA contribution before the penalty deadline and there was no earnings but loss, do I need to file Form 5329?

Do you have an Intuit account?

When I removed the entire excess traditional IRA contribution before the penalty deadline and there was no earnings but loss, do I need to file Form 5329?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert