@Steelydan989 wrote:
Box 3 Distribution code is 1.
I'd planned to complete a Return of Mistaken Distribution form and return the money to the account. After that, I'd hoped to do a Return of Excess Contribution to get the money back out and close the account but my financial institution told me Return of EC could only be done if the contribution had been made within the most recent tax year.
The bank was wrong. A return of mistaken contribution could have been made up until July 15, 2020, for tax year 2019. Or did you ask after July 15? (The deadline is normally April 15 but it was extended to July along with other tax deadlines due to the pandemic.)
Or perhaps you misunderstood. A withdrawal of mistaken contributions made in 2020 would not have changed your 2019 1099-SA and would have been reported on your 2020 1099-SA with code 2, but you still would have been allowed to claim it on your 2019 tax return.
