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Deductions & credits
did you inform the trustee that the $1725 was a 2018 contribution and was it made on or before 4/15/2019?
contact the trustee now to see if they'll correct the form. if not you may have problems with the IRS because they have a copy of the form showing $8725. you'll probably get a notice from the IRS. you can write back to see if they accept your explanation. if received by the trustee after 4/15/2019 it's a 2019 contribution so you'll owe a penalty unless withdrawn with income by 7/15/2020. you can opt to pay the penalty and treat it as a 2020 contribution so you would need to reduce the maximum amount you can contribute for 2020 by that excess.
‎June 29, 2020
7:27 PM