earnings on excess contribution to Roth

Teresa6672 · ‎March 19, 2025

If an excess Roth IRA contribution for 2024 was withdrawn on March 6, 2025, and it generated earnings, should the earnings be reported for tax year 2024?

For the federal and state taxes withheld, in which tax year should they be reported?I havenot got the 1099-INT

DawnC · ‎March 19, 2025

The earnings are included in your taxable income for the year the excess contribution was made. The withholding will be reported on next year's return. What if I made an excess Roth Contribution in 2024?

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View solution in original post

DawnC · ‎March 19, 2025

The earnings are included in your taxable income for the year the excess contribution was made. The withholding will be reported on next year's return. What if I made an excess Roth Contribution in 2024?

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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earnings on excess contribution to Roth