I and my husband withdrew excess contributions and earnings for 2020 from Roth IRA in January 2021.
I learned on this community to create substitute 1099-R. Thank you! I am younger than 59 1/2 and simply followed the instruction. Box 1 is total distribution, Box 2a is earnings, and P & J for Box 7. My husband is over 59 1/2 and owns the account over 5 years so my understanding is that he doesn't owe tax. However, when I enter the same information as mine, the amount of tax due increased. I am wondering if I should use different codes like Q or Box 2a should be zero?
Thank you community members for your help!
