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Get your taxes done using TurboTax
Thank you so much for such a great response. I just wanted to follow up with my situation. I have overcontributed to my ESA for the year of 2021, but timely removed the access and earnings (in practice it was a loss) by Jun 1st of 2022. Because there was a loss my distribution was smaller than the access.
My understanding is there is no penalty and there is no income from that distribution either. How do I report that? Do I need to report that at all?
Really appreciate your help!
‎January 26, 2023
11:14 AM