"You'll get a 2022 Form 1099-R to report the overcontribution refunded to you, but since you have already added it to your 2021 income (either by Corrected W-2 or 'Other Income'), only the Earnings will be taxable for 2022."
Two things confuse me:
1) I'm getting the overcontribution refunded to me in 2022 but paying the tax, either by corrected W-2 or 'Other Income', on my 2021 tax return. So even though I receive the overcontribution in 2022 it's considered 2021 income, correct?
2) The 2022 1099-R reports income (the overcontribution) as 2022 income, right? Can the 1099-R simply be ignored?
