Hello,
I made excess Roth IRA contributions in Aug 2020 of $6000 for 2020 and in Feb 2021 of $6000 for 2021. These were the only two contributions ever made to this Roth IRA. I realized both were in excess and have withdrawn all monies (contributions plus the earnings). I have not filed my 2020 taxes yet. The total distribution is $13,622, so the earnings are $3622, which I know I am responsible for paying taxes on and the 10% early withdrawal penalty.
Since the contributions are for two different calendar/tax years, how/what do I report for the earnings? Is it possible to report all of it on my 2020 return and pay all taxes and penalty now, or do I need to split it up between two different tax years? Since I would not receive a 1099 of the distribution until 2022, I believe I complete a substitute 1099?
Thank you
