How to file taxes with excess Roth IRA contribution removal without having 1099-R form yet?

You're on the right track! When you withdraw an excess contribution before the tax filing deadline (including extensions), you're essentially treating it like the contribution never happened. Distribution code P is correct - it identifies this as a removal of excess contributions. For Box 2a (Taxable amount), you should indeed report $0 since you're just correcting an excess contribution made within the allowed time frame - not taking an actual distribution from earnings. Box 3 should also be $0 because you didn't realize any capital gains. Actually, since your investments lost value, you handled it correctly by only withdrawing the current value ($740.25). The IRS only requires you to remove what's actually there - you don't need to come up with the difference out of pocket if your investments lost value. When filing without the 1099-R, you'll need to self-report this on your tax return. Most tax software allows you to enter this information manually - just make sure you report it accurately with the correct distribution code and amounts.

I dealt with something similar last year and found taxr.ai (https://taxr.ai) to be super helpful. Had the exact same issue with an excess Roth contribution that I pulled out before the deadline but with no 1099-R to show for it when filing. The tool analyzed all my documents and showed me exactly how to report it without the form. It basically confirmed what the previous commenter said about using code P and $0 for the taxable amount, but also gave me step-by-step instructions for my specific tax software. Saved me hours of research and worry about making a mistake.

Just wanted to update - I tried taxr.ai after seeing it mentioned here and it was incredibly helpful. I was stressing about my excess Roth contribution and backdoor conversion situation but the tool immediately identified both issues. It actually showed me where to report my excess contribution removal without the 1099-R and explained exactly how to handle the backdoor Roth separately. What impressed me most was that it detected an error I made in how I was planning to report the early withdrawal penalty. Would have triggered an audit flag for sure! The personalized instructions for my tax software made everything super clear. Definitely worth checking out if you're stuck in a similar situation with retirement account reporting issues.

If you're having issues getting clear information about this from your broker, you might want to try Claimyr (https://claimyr.com). I couldn't get anyone at my broker or the IRS to explain how to handle my excess contribution situation last year, and was stuck on hold for hours. Claimyr got me connected to an actual IRS agent in about 20 minutes who confirmed exactly how to handle reporting this without the 1099-R. You can see how it works here: https://youtu.be/_kiP6q8DX5c. Basically saves you from the hold time nightmare when you need to speak to someone official.

I have to admit I was completely wrong about Claimyr. After posting my skeptical comment, I decided to try it as a last-ditch effort because I was still confused about handling my excess IRA contribution. Got connected to an IRS representative in about 15 minutes (actually faster than promised). The agent walked me through exactly how to report my excess contribution removal without the 1099-R. She confirmed I should use distribution code P and that I was right to only withdraw the reduced amount after the investment loss. Feeling much more confident about my filing now. Sometimes good things actually do work as advertised - who knew?

Something else to consider - the net income attributable (NIA) to your excess contribution might be taxable even if you're removing the excess before the deadline. If your fund lost money (sounds like it did), you don't pay tax on the loss. But if there had been gains, those would be taxable in the year you take the distribution (2024 in your case). That's probably why Box 2a would show $0 - because there were no earnings on the excess amount to be taxed.

Has anyone used TurboTax to report this kind of situation? I'm having trouble finding where to manually enter a 1099-R that I haven't received yet.

One thing that might help ease your concerns - I had almost the exact same situation last year. Made an excess contribution, caught it early, removed it before the deadline, but didn't get the 1099-R until the following January. I filed my taxes self-reporting the distribution with code P just like you're planning to do. When I eventually received the official 1099-R the next year, all the numbers matched perfectly with what I had self-reported. No issues, no amended returns needed. The key is being accurate with your amounts and using the correct distribution code. Since you documented everything and have your broker statements showing the withdrawal, you should be fine. Just make sure to keep all those records in case the IRS ever asks for verification down the road. Your approach with the $740.25 withdrawal amount is correct - you only need to remove what's actually there after any investment changes. Good luck with your filing!