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After you file
You will amend the 2020 return now without waiting for Form 1099-R to include the 6% penalty as mentioned by awesome expert MaryK1101.
The distribution of the excess contribution will be a regular distribution (without earnings) because it is made after the due date of the 2020 tax return. You will report the 1099-R on your 2022 tax return.
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March 12, 2022
6:20 AM
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