DanaB27
Expert Alumni

Retirement tax questions

When you request a withdrawal of excess contribution plus earning with your bank then the bank should be able to tell you how much the earnings were. Please make sure that you request a withdrawal of excess contribution plus earnings so the 1099-R will be coded correctly.

 

Yes, in your example, if you get $6,789 return to you and your excess contribution was $6,000 then the $789 would be the earnings.

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