@mtoboggan wrote:
@macuser_22 @npierson7 Hi! Sorry, I'm back with a follow-up. I've done my amended return for 2019, added the 1099-R income (I put the code as BP, and when it asked "What year does it say on the return?" I put 2020). But the 1040-X says that the adjusted gross income is the same, that I had no taxable retirement income, and there are no changes to my tax implications. Does this make any sense to you? The taxable amount in box 2 does show as 0.00 but I don't know whether I should still be paying a penalty tax for withdrawing early.
That is correct. A return of Roth contribution is not taxable, only earnings that were returned are.
A zero in box 2a either indicates not earnings or a loss, so there is nothing to tax. There is no reason to even mail the do-nothing amended return unless the IRS contacts you just to have it for the record.
**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.**
