Good Evening,
@DanaB27
@MinhT1
I have a similar situation to the one in this thread. I opened and contributed to a new Roth account in 2024 and now I've realized that I went over the allowed income limit. I made the following 3 contributions:
5/24 - $530
7/24 - $400
2/5/25 - $2000 - this wasn’t invested in anything yet
All contributions were allocated to the 2024 year.
I'm planning on removing the money from the account before the 15th deadline. Although I put $2930 into the account, it looks like I will have a small loss. Do I still need to create and file a 1099r with my 2024 or 2025 return if I had a loss?
If I do still have to create would I still use codes PJ if some of my contributions were added in 2024 and some in 2025, even though they were both allocated to the 2024 year? I'm 42 if that helps.
