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Excess Contribution to Roth IRA
In January 2021, I contributed $6000 into my Roth IRA for the 2020 year. I realized I exceed the limit for contributing. I requested an excess contribution withdrawal and received the money in February 2021. The earnings computed were $448.31. I received a total of $6,403.48. I was told I would receive a 1099-R in January 2022. My question is do I need to report anything on my 2020 tax filing or would this be reported in the 2021 tax year since I contributed the money in January 2021? Thank you.
March 27, 2021
6:47 AM