Roth IRA excess contribution return

David_A — Sat, 14 Mar 2026 22:22:03 GMT

In 2025, I created a new Roth IRA with an initial contribution of $16,000. I realized my error within two days and requested my broker return the $8,000 excess contribution.

I received a 1099-R from my broker for that transaction. The Distribution Code (Box 7) is "T" indicating excess contribution return. However, TurboTax Desktop shows my tax owed increased after adding that form.

I don't see any options to further explain that the $8,000 shouldn't be taxable since it was the excess contribution return. How do I update my entries in TurboTax Desktop to ensure that amount is not taxable?

Re: Roth IRA excess contribution return

David_A — Sat, 14 Mar 2026 22:47:32 GMT

Disregard. I found what I needed in the Deductions & Credits section, Traditional and Roth IRA Contributions section.

topic Re: Roth IRA excess contribution return in Retirement tax questions

Roth IRA excess contribution return

Re: Roth IRA excess contribution return