- I made a Roth contribution in in 2018 for $6500. This year I realized I was only eligible for a partial contribution but removed the entire $6500.00 in June 2020. While doing my taxes this year TurboTax reported the excess as $6060 (which after researching I calculated this to be correct). I have amended my 2018 return to pay the additional tax (haven’t filed it yet).
- I also made a contribution for 2019 but realized I was ineligible so I removed the original $7000 + $559 earnings in June 2020
According to Vanguard I will receive a single 1099R next year which will have 2018 & 2019 withdrawals listed as separate line items with different codes for each in box 7. According to Vanguard the codes would be JP for 2019 and just J for 2018 (not sure if this is correct for 2018).
How do I report the multiple line items in the substitute 1099R as TT does not allow for this.
