Excess Roth IRA contribution made in 2018 lost value and amount withdrawn was less than contribution amount. Turbotax incorrectly adds the difference as contribution!

galwar — Tue, 04 Jun 2019 20:38:04 GMT

When TurboTax asked how much of your contribution you had...

dmertz — Tue, 04 Jun 2019 20:38:06 GMT

When TurboTax asked how much of your contribution you had returned, you likely mistakenly entered the loss-adjusted amount distributed instead of entering the unadjusted amount of contribution returned. If the excess was, say, $500, and account lost 10% so the adjusted amount distributed was $450, you must indicate that you had $500 returned.

topic Excess Roth IRA contribution made in 2018 lost value and amount withdrawn was less than contribution amount. Turbotax incorrectly adds the difference as contribution! in Retirement tax questions

Excess Roth IRA contribution made in 2018 lost value and amount withdrawn was less than contribution amount. Turbotax incorrectly adds the difference as contribution!

When TurboTax asked how much of your contribution you had...