@epcot wrote:
I'm so upset my IRA provider was bought out by Betterment, because yikes this has been a hassle and a half.
I have the same situation of having deposited and withdrawn Roth IRA excess, and they put the same amount in 1 and 2a, then checked 2b.
Their solution was first to tell me to use form 8606, then:
"If you are withdrawing excess contributions, you have to use a similar process as the 8606 (but outside of the 8606), determining your taxable vs tax free portion of your distribution which will end up on the 1040 itself."
The 1099-R should have had a code 8 or P for a "return of contributions. If they refuse to correct the 1090-R then refer to prior posts in this thread on how to file a substitute 1099-R.
**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.**
