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February 25, 2024
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How Much Should I Enter If I requested Excess Traditional IRA Contribution Removal

  • February 25, 2024
  • 1 reply
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Last year I contributed $6500 in Traditional IRA  as Spousal IRA

but I decided to request excess Traditional IRA contribution removal because of my spouse income limit.

Only $400 can be deductible so I will ask to remove $6100 from last year my contribution.

 

Once It's done.

Then how much should I enter traditional IRA contribution in turbotax?

Just enter $400? or should I enter the full amount I contributed last year?

I tried entering the full amount but Turbotax didn't ask any kind of excess removal only asked like switch or recharacterization.

 

Thanks

 

    Best answer by AnnetteB6

    You should enter only the $400 contribution for 2023 that will remain in the Traditional IRA into your return.

    1 reply

    AnnetteB6Answer
    February 26, 2024

    You should enter only the $400 contribution for 2023 that will remain in the Traditional IRA into your return.

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