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Retirement tax questions
Correct the net contributions prior to 2020 on the Enter Prior Year Roth IRA Contributions screen you will need to enter contributions prior to 2020.
What code is inbox 7? Did you tell your bank this was a return of excess contribution plus earnings? For the removal of excess contribution it should be codes 8 and J in your case. Box 1 will have the contribution and earnings and box 2 the earnings. Only the earnings will be taxable.
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‎February 17, 2021
5:22 AM