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Get your taxes done using TurboTax
This seems easy enough, but why have other people with this same question gotten the advice to make a 1099-R? With a 1099-R the info will appear in form 1040 on line 4a and 4b. Is it ok for this info to just appear on line 8 (Other Income) of 1040 with an explanation of "Excess earnings for excess contributions of Roth IRA"? (On line 8, I put just the earnings. On line 4a would be the total distribution and line 4b would be the earnings on that distribution if one had a 1099-R.)
Is there a difference, or can you do it either way?
‎February 25, 2022
2:08 PM