I rolled over the after-tax Roth portion of my Fidelity 401k to a new Roth IRA with M1 finance in June 2019. In July 2019, Fidelity informed me that there was an excess 2018 contribution of $2200 which was ineligible for the rollover. Apparently, the company made a 401K contribution at end of Q1 2019 towards 2018 for all employees, which led to my 2018 contribution to exceed the max limit. Thus Fidelity caught this issue only in Q2 2019.
To rectify, Fidelity recommended that M1 distribute the excess amount and earnings on that amount. In total, M1 distributed $2500 to me ($2200 + $300 earnings estimate), which went to a regular checking account.
Now I have received two 1099-R's, from Fidelity and M1 Finance for the amount of $2200 and $2500, with box 7 distribution codes E and J respectively. What do I have to do to make sure we report this correctly to IRS? Does our 2018 tax filing need to be amended?
