- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Hi David @DavidS127 ,
I am in the exact same situation.
1) So, you are saying, if I removed my excess contributions made in 2019 and in early 2020 (since contributions till July 15th of 2020 can count towards 2019 tax year contributions) before tax deadline - which I did and had as NET LOSS on removing them; I don't have to worry about any 1099-R entries, amendments etc for 2019 filing as well as for down the line?
2) Also, when looking up the codes in trying to create a substitute 1099-R, I barely have any info (if I decide to do a substitute 1099R stating 0 earnings from the withdrawal from Box 2a). I looked up 'JP': Doesnt it make sense to use 'J8' instead, if we are talking about 2019 contributions? 'P' refers to 2018 and hence the confusion. Can you clarify?