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Retirement tax questions
That's correct, there's no penalty if you withdraw before the filing deadline. Do not deduct the amount you're withdrawing on your 2016 tax return.
Because you will be getting the over contribution back in 2017 you will receive a 1099-R in 2018, for 2017. It will be coded such that you will only be taxed on any earning that are attributed to that contribution.
Because you will be getting the over contribution back in 2017 you will receive a 1099-R in 2018, for 2017. It will be coded such that you will only be taxed on any earning that are attributed to that contribution.
May 31, 2019
11:58 PM