TurboTax has asked me to "Enter distributions you received from retirement plans after 2020 and before the due date of the 2023 tax return"
Below that, it boxes for a dollar amount for "2021(or 2022 or 2023) Roth IRA, Traditional IRA, and Qualified Plan Distributions"
In 2022, I withdrew an excess amount of money that I overcontributed to my Roth IRA in 2020 and 2021. The 2020 excess was not timely (so I had to pay the 6% penalties), but the 2021 was timely (yet, it was at a loss).
- Is this section necessary for me? Do I need to write in the excess amounts I withdrew?
- If this section is necessary, what amounts do I input, and in which box? For example, do I total the 2020 and 2021 excess I had to withdraw and place it in the 2022 box because that is the year I removed them?
original posted by Impossible_Hyena_282 to r/personalfinance on Thu, 14 Mar 2024 15:17:56 GMT.