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Retirement tax questions
I really trust your expertise and would like to ask your advice for this issue:
I mistakenly made excess Roth IRA contribution $7000 in 2020 for 2020 and removed $7677 with earnings in March 2021. I was 62 last year and will receive 1099-R for it in Jan, 2022.
Is this a good idea to enter a substitute 1099-R with my 2020 tax return by April 15 (or May 15), 2021?
If so, would you be kind to help review - whether I did it right? I left many blanks and don't know what to enter/select.
Thank you for the great help!
March 25, 2021
3:39 PM