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Have taxpayer who has excess Roth 2020 contribution due to zero Schedule C net income that was not expected at time of Roth contribution. Taxpayer plans to withdraw Roth contribution before tax deadline.
How do I show in Proseries?
Do I still input the Roth contribution, but where to show expected withdrawal? I know the related income needs to be reported on tax return -- who determines that, the broker or taxpayer (us)?
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the contribution is listed on line 19... the amount withdrawn before due date of return is line 25
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the contribution is listed on line 19... the amount withdrawn before due date of return is line 25
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Thank you! I feel silly that I missed line 25 since I thought I read the lines on input screen before posting question.