Hello,
In 2014 I had to remove Roth IRA contributions I had made in that year because I exceeded the contribution income limits.
I had my brokerage withdraw the funds but noticed just now that the 1099 I received reported the withdrawal as a distribution instead of a withdrawal of excess contributions so I paid a penalty. My questions now is how do I clean up this mess?
1)Do I need to have my broker issue a corrected 1099?
2)Can I recapture the penalty I paid in 2014 tax year?
3)What do I do about earnings on the funds since tax year 2014?
4)Which additional forms or amendments would be required?
3)Anything else which may be helpful for this situation?
Please help,
Thanks in advance
