I'm not understanding now, because I thought I was able to change my mind on my contribution. I have a 1099-R, and box 1 = $7,000 and box 2a = $7,000.
I put the money in on 12/2/20 and took it back out on 12/4/20 because I changed my mind. My understanding is that this would not cause a penalty even if I'm under 59 1/2 as I have the right to change my mind in the same tax year. I was told that box 7 should have a code "8 - return of contribution taxable in 2020" to avoid a penalty, but it still triggered one. Is there another code I should have fidelity put in an updated 1099-R to represent what I did?
thanks
