DanaB27
Expert Alumni

Retirement tax questions

Generally, if you requested the withdrawal of excess contribution plus earnings, then only the earnings will be taxable in the year in which you made the contribution. A contribution made for 2019 in 2020 is deemed to have been made on the last day of 2019. Therefore, the earnings will be taxable in 2019.  Please see How do I amend my 2019 return?

 

What is the code in box 7 in 1099-R?

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