Hi Dana,
So would my timeline look like this?
1. Go to my IRA custodian (TD Ameritrade) and file a Removal of Excess-Form to generate the 1099-R.
2. File my taxes for Y2020.
3. Receive 2021 1099-R form in Y2022 and I would just throw that into my taxes for Y2022 (2021 taxes)
Also, where would I find the exact value of what to input for current account value? Would I just my current account value before I ask them to file the 1099-R?
The reason why I'm confused about my current account value is because TDA takes fees per options trade.
So contribution may be 5K and my current balance is like $5,105.65 or something (due to option trading fees). Would I just take this ending balance of $5,105.65 right before I file this removal of excess form and input that into question 2 about the "current account value"? Or will generating the 1099-R give me some sort of new current balance?
https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA1401.pdf
^This would be the removal of excess form to generate the 1099-R.
