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leeyooj
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How to fill out 1099R for withdrawal of excess roth ira contribution?

Hello,

 

I unknowingly contributed $2000 more than the limit but realized after I had filed my taxes. I read that I would still be able to withdraw the overcontribution before October if I file an amended return with form 1099R. I recently withdrew the overcontributed amount but am confused how to correctly fill out the 1099R form to report this. What should go in box 1? The amount that I withdrew or the total amount that I contributed (including excess)? How do I fill out the other boxes or are there only certain ones I need to fill out for this scenario?

 

Thank you in advance, any help is greatly appreciated

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2 Replies

How to fill out 1099R for withdrawal of excess roth ira contribution?

https://ttlc.intuit.com/community/taxes/discussion/[product key removed]ved-for-jp-j-early-distribut...

 

The trick for entering a 1099-R for excess earnings now is discussed at the end of this thread.

 

You have to  write "Filed pursuant to section 301.9100-2" at the top of Form 1040-X.

If you want to e-File, put the text in the Explanation box.

@leeyooj 

How to fill out 1099R for withdrawal of excess roth ira contribution?

Reply back as to how the procedure works or does not work for you

 

positive earnings removed are no longer penalized 10% if you are under age 59 1/2. (eliminated in 2023)

@leeyooj 

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