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Question

I received a distribution from a previous IRA that now seems to be taxed. Should it be counted as an excess contribution?

Forum|Forum|1 year ago
February 16, 2025
1 reply
0 views

My IRA rollover is showing as an excess contribution. what can i do?

Please do not enter a rollover in the IRA contribution section. If you did enter it in the IRA contribution section, go back and delete the entry.

Login to your TurboTax Account
Click on "Search" on the top right and type “IRA contributions”
Click on “Jump to IRA contributions"
Deselect the IRA, click continue, and confirm that you want to delete.

All you have to do to report a rollover is to enter your Form 1099-R and answer the follow-up questions. Please see Where do I enter an IRA rollover?

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