Hi DanaB27! First, thank you for your advice on this matter. Your expertise and time are deeply appreciated. Second, I apologize if this question is redundant, but I just found this thread in April 2023.
My scenario: I made an excess Roth IRA contribution of $105 in 2022. I realized this mistake and had Vanguard remove the excess contribution in March 2023 (before Tax Day). Vanguard calculated a loss and returned a distribution of $97 in March 2023. I have not yet received a 1099-R (which I understand I will receive in 2024.) I am <59.5 years old.
My question: If I want to manually enter a 2023 "1099-R" for the 2022 excess contribution removal, should I enter $105 in Box 1, $0 in Box 2, and both P and J in Box 7 (because I made the 2022 excess contribution and removed it in 2023 but before 4/18/23)? P and J still apply even if I successfully removed the excess contribution in 2023 but before 4/18/23?
Lastly, then I should not also enter any information in the other TT sections (deductions) when they ask about excess Roth IRA contributions in 2022?
Thank you very much for your time and help!
