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Retirement tax questions
You will receive a 2020 1099-R reporting this that should be entered in an amended 2019 tax return. However, only any gain shown in box 2a would be taxable. If there was a loss and less was returned than your contribution then there would be no reason to amend since it would not change anything.
Losses in a IRA are not deductible and not reported anywhere.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎April 14, 2020
12:35 PM