Hi David (and everyone)
@DavidS127
I had a question regarding excess contribution to Roth IRA, - I was hoping for some last minute guidance. Here are the basics:
Made $1,800 in excess contributions during the 2019 calendar year
Realized made excess contributions last week BEFORE filing my taxes
Excess contributions withdrawn and earnings on excess contributions withdrawn (will be receiving checks for both)
Earnings on excess contributions in 2019 were $45.43
Do I have to report anything on my 2020 taxes that I am about to file (tomorrow!)?
What form/information do I need to report on my taxes before I file them (tomorrow) to avoid having to do an amendment? Is it a 2019 1099-R that will be sent to me that contains the information? (If so, going to try and get this information from the financial institute tomorrow - not sure if do-able).
Further, I realized excess contributions were made so far this year in 2020, I have already halted further contributions and requested those be withdrawn and sent to me along with earnings on the excess contributions. When I file in 2021 (for 2020 tax stuff) will I report this the same way - using a 1099-R form for the earnings on excess contributions?
Most importantly, thank you!
