leeyooj
New Member

How to fill out 1099R for withdrawal of excess roth ira contribution?

Hello,

 

I unknowingly contributed $2000 more than the limit but realized after I had filed my taxes. I read that I would still be able to withdraw the overcontribution before October if I file an amended return with form 1099R. I recently withdrew the overcontributed amount but am confused how to correctly fill out the 1099R form to report this. What should go in box 1? The amount that I withdrew or the total amount that I contributed (including excess)? How do I fill out the other boxes or are there only certain ones I need to fill out for this scenario?

 

Thank you in advance, any help is greatly appreciated