Thanks for your reply and great question. The box I checked on the IRA Distribution request form to the custodian was “Removal of excess/Nondeductible contribution plus earnings before tax filing deadline. Tax year in which contribution was made: 2020. Is the contribution plus earnings being removed in the same year? Yes. The amount of earnings I calculated was $0.”
And there was no IRS code associated with this choice on the form, whereas most of the other choices for reason for contribution had an IRS code with it.
I don’t think the custodian reversed it, but I don’t know for certain. They sent me my contribution back (there were no earnings) about a week or so after I opened it and they said they closed the IRA. On the distribution request form it indicates that distributions authorized using the form will be reported to the IRS as an IRA distribution.
I was hoping to somehow get out of this being a taxable event since I closed it right away as a mistake and there were no earnings. It’s the proration thing I’m most concerned about and wondering if there’s a way out.
It was a back door Roth IRA…
