You has $6,793.03 distributed to accomplish a return of $7,000 of contribution. enter the $7,000 Roth IRA contribution, then, when TurboTax indicates that you have an excess contribution, tell TurboTax that you had $7,000 of contribution returned. TurboTax will the ask you to complete an explanation statement where you'll indicate that the net income attributable to the $7,000 returned contribution was a loss of $206.97 resulting in a distribution of $6,793.03.