THANKS! We don't have any 2021 compensation (no wages, only pensions, social security, investment gains and dividends), so I will withdraw the 2021 IRA contribution from my IRA account without tax withholding. There were no gains attributable to this contribution, held in cash only; so it seems that I don't need to enter any 2022 form 1099-R (aside from the one for my 2021 MRD).
But I don't understand your comment about 'explanation statement' in my 2021 tax return. Please clarify.
Also Turbo Tax, in 'step by step' mode asked about the contribution and it seems to change my tax liability (money owed) when I 'played' with the amount. Is the disallowed contribution taxed in 2021.
