Hi @DanaB27, thank you for your post on this topic it has been incredibly helpful.
Regarding the first option, " wait until you receive the 1099-R 2021 in 2022 and amend your 2020 return"
I'm in a similar situation where I contributed excess in 2022, and am now removing the excess in 2023. I rather wait until 2024 at which time (correct me if I'm wrong) I'll get my
- tax documents for 2023
- 1099-R and 5329 2022
Does that excess contribution which i actually put back into my pocket in 2023 go on my 2022 or 2023 tax returns? i.e. does it increase my 2022 (the year i made the mistake) or 2023 (the year i put the money back into my pocket) taxable income?
Thank you
