vyrenee
Returning Member

Can I ignore a 1099-R for a corrective made in a prior year?

In calendar 2002, I made deposits into Roth IRAs for the wife and I for calendar 2023.

Turns out we were not eligible for 2023 so I made corrective distributions in early calendar 2024-the deposited sums and any earnings were withdrawn in early 2024.

I reported these earnings on our 2023 return using Form 5329 and the earnings were taxed on that return.

Of course I have this year received 1099-R forms for the same earnings that were reported and taxed on our 2023 return.

I tried entering both here 1099-Rs and a second set of 1099s with negative numbers to eliminate the income but TurboTax wont let me file electronically with the negative numbers.

 

Can I just ignore these 1099Rs as they were already reported and taxed on the 2023 return?

 

Thanks.