Question
Over contributed to Roth IRA in 2022 and did a return of excess prior to taxes in 2023. How do I enter return of excess in 2023 taxes?
Currently I have a 1099-R form filled out with the return of excess amount showing as gross distribution and 0 as the taxable amount. PJ are the Distribution codes.
Is this entered correctly? Do I need to amend my 2022 taxes like Turbotax suggests?
If I step into the tax form itself, should I check box A4 in the Verify Box 7 Distribution Codes?
Is this entered correctly? Do I need to amend my 2022 taxes like Turbotax suggests?
If I step into the tax form itself, should I check box A4 in the Verify Box 7 Distribution Codes?
