You have until the due date of your 2020 tax return (April 15, 2021) to request a "return of excess contribution" (NOT a regular distribution) from your IRA. The IRA custodian must return the $1,000 excess plus any earnings attributed to the excess. They will issue a 1099-R next January for you to report it on your 2020 tax return. Only any earnings returned will be taxable/
**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.**
