After I filed my 2023 taxes via Turbo Tax Deluxe in February 2024, I deposited $7500 into my Roth for 2023 and $8000 into my Roth for 2024 on April 1 before the 2023 tax deadline of April 15, 2024. In May I received a 2023 Form 5498 from Vanguard for the $7500 deposit.
In mid-December 2024 I realized I was not allowed to put any money into my Roth since I’m retired and not working. As such, Vanguard withdraw both the $7500 and the $8000 plus the gains made during the 2024-year on December 27, 2024. Since then I received a Form 1099-R for 2024 (in mid-January 2025 from Vanguard) for the $8000 (in box 1) and the gains (in box 2a), with distribution codes 8, J. No mention of the $7500.
Since Vanguard issued a Form 5498, I believe I need to file an Amendment Return for 2023 indicating the excessive funds ($7500) was returned. Since all funds were deposited in 2024, there was no gains in 2023. Question becomes, do I need to file a 2023 Amendment Return, and Do I then make up my own Form 1099-R 2023 (or 2024), what would the distribution code be?
