topic Roth IRA excess removal (with a loss) in Get your taxes done using TurboTax

Roth IRA excess removal (with a loss)

AL107 — Mon, 23 Feb 2026 13:14:54 GMT

After filing 2021 return (in 2022) I realized I have over contributed to Roth IRA based on income levels. I quickly removed it in 2022 before the dead line so there is no penalty, but with a loss. As a result the distribution was less than the excess. And so I not have any income to report as a result of this transaction.

Do I still have to file an amended even though there was no taxable income? If so, how to do that in TurboTax? We have already received 2022 1099-R with PJ proving the above with 0 taxable amount. Do I have to amend state return as well (we are in North Carolina)?

Re: Roth IRA excess removal (with a loss)

Mike9241 — Mon, 06 Feb 2023 06:44:28 GMT

there is nothing to amend for 2021 because of the loss. you don't get a deduction for it.

Re: Roth IRA excess removal (with a loss)

AL107 — Mon, 06 Feb 2023 14:30:09 GMT

Thanks a lot @Mike9241 , it makes perfect sense - since there is no additional income, there is nothing to amend. I was just not sure if I have to reflect my 1099-R in the previous return. I read lots of posts on the forums here and could not gage since I did not see a simple situation similar to mine .

Really appreciate your help!

Re: Roth IRA excess removal (with a loss)

AL107 — Mon, 06 Feb 2023 14:35:25 GMT

@Mike9241 Do you know if need to enter 1099-R for my 2022 return even though there is no taxable income?