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How to report earnings on excess Roth IRA contribution on timely withdrawal
Hi, I'm below the age of 59 1/2 and realized I overcontributed my Roth IRA done in 2024 while performing 2024 tax return. I have went ahead to withdrawal the excess contribution plus earnings from the 2024 contribution from Fidelity this month (in 2025).
1. However, since I won't get 1099-R form until 2026 because the withdrawal was made in 2025- how can I correctly report the earnings amount from the 2024 contribution in the 2024 tax return?
2. Additionally, will I still indicate I have made the Roth IRA contribution in my 2024 tax return even though I've already withdrew all the contributions out already?
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March 24, 2025
3:03 PM