@DanaB27 wrote:
1) I would still enter the Roth IRA contribution and enter that you are withdrawing the whole contribution before the due date to be accurate.
2) Yes, you would get two 1099-Rs one with the code P and another 1099-R with code 8 (if it is a 2021 excess contribution withdrawn in 2021).
You only get a separate code 8 1099-R for a return of excess *deferrals* form an employer retirement account such as a 401(k) where the earnings are taxed in the year returned. Returned IRA earnings are taxable in the year the contribution was *for* not returned.
**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.**
