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Deductions & credits
Don't enter anything in your 2022 taxes since you withdrew the excess Roth before the due date of your 2022 tax return. That 2023 1099-R will report the excess contribution in box 1, a zero in box 2a the codes in box 7 tells that IRS that it was the withdrawal of an excess contribution from a Roth by the due date, and the zero in box 2a tells the IRS there is no income to report or enter the Roth and then go through the questions to indicate you withdrew the excess before the due date of the return. no 5329 will be submitted to the IRS under either method.
‎February 22, 2023
10:49 PM