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1099R IRA DISTRIBUTION
Hello, In January of 2020 I deposited $3000 into my IRA. Subsequently it dawned on me that I had no earned income in 2020, so I withdrew the excess contribution in December of 2020. 1099R shows distribution code 8.
How do I record this so it is not taxable. Contribution and withdrawal in same year...should be a wash. Please give me some thoughts. Thank you
‎January 27, 2021
12:17 PM