Amendment for Excess Roth Contributions

rand90210 — Tue, 24 Feb 2026 04:43:53 GMT

I'm doing my first income tax amendment for excess contribution.

Here is my situation:

In 2021, my excess contribution was $4,992 to Roth IRA.
In 2021, I did not list this Roth contribution on 2021 taxes since I removed the full amount on 3/22/2022, prior to filing my taxes for 2021.

I received a 1099-R in 2022 for $4,773.35. I called the broker and they said they calculated the excess contribution lost a little money.

Do I need to amend my 2021 tax return and if so what steps do I need to follow in Turbo Tax for this type of excess contribution amendment?

Re: Amendment for Excess Roth Contributions

DanaB27 — Mon, 17 Apr 2023 13:10:30 GMT

No, if you had a loss then you do not need to amend your 2021 tax return since you do not have a taxable event (your box 2a should be $0). All that TurboTax would do is add an explanation statement.

topic Amendment for Excess Roth Contributions in Retirement tax questions

Amendment for Excess Roth Contributions

Re: Amendment for Excess Roth Contributions