KarinaM
Returning Member

Withdrew excess Roth contributions and earnings before I filed taxes

I contributed $600 to my Roth IRA in 2022. In Jan 2023, I was doing my 2022 taxes, and TT pointed out that I had excess contributions (couldn't contribute to a Roth at all). I worked with my bank to withdraw those contributions, including any earnings. Turns out I actually had a $10.61 loss on the excess contributions, so they withdrew $589.39. All actions have now been completed, though they don't expect to be able to provide an updated 5498 or a 1099-R until after 15 April. 

 

Since all excess contributions (and earnings) have been withdrawn before the 2022 filing date, and the net result is $0 contributed and there's no income from the excess contributions amount, do I have to report any of it on my 2022 taxes? If so, what exactly do I have to report on my 2022 taxes? What about on my 2023 taxes?