Hi @DanaB27, I had two more questions to ask:
1) So I have withdrawn the excess contribution (plus its earnings) I made in 2020. If I choose to NOT report a 1099-R on my tax return now and am okay with filing an amendment for 2020 tax return next year (after getting the 2021 1099-R), do I even need to do anything related to my Roth IRA when filing 2020 tax return now ? Do I need to even state on my 2020 tax return now that I contributed to my Roth IRA in 2020, since all of it (plus earnings) is withdrawn now ? If I don't need to deal with any of this, would it create a problem with IRS when they receive a Form 5498 showing contributions I made which I didn't mention in my 2020 tax return ?
2) Hypothetically speaking, suppose I did any other IRA related activity this year which is a taxable event (and so deserves a 1099-R next year), will I get TWO 1099-Rs next year ? One with code P mentioned in Box 7 to indicate it's for contributions made in 2020, and one with code P in Box 7 which relates to the taxable event I do THIS year in 2021 ?
