@ha-diane79 wrote:
Thanks Dana(B27),
Followed your instruction, on box 7 I enter:
J - Early distribution from a Roth IRA
P - Return of contribution taxable in 2020
Why it is the year 2020? Should it be 'Return of contribution taxable in 2021'? I made contribution on 1/11/2021 and withdraw the money on 3/22/2022.
if you made the contribution on 1/11/21 then that was before the due date of the 2020 tax return so it was applied as a 2020 contribution made in 2021 so the return of contribution is taxable in the tax year that it was for - 2020.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
