@Inugasuki wrote:
Box 7 code is B8. It was for 2019.
I did contact the "payor" about the form, but they are saying they don't show a negative amount for Box 2a.
Box 2a can never be negative.
Code B8 indicates a corrective distribution from an excess contribution. Box 2a should have the excess contribution and earnings distributed less any designated Roth contributions, so box 2a could be zero or blank. Box 5 should only contain the amount of basis (your contributions) being returned in box 1. Perhaps they mistakenly entered ALL of your past Designated Roth contributions in aggregate rather than nothing or just the amount of contributions that are included in the box 1 amount. In any event box 5 (part of box 1) can never be more then the whole of box 1.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
