DanaB27
Expert Alumni

Retirement tax questions

Please be aware, that since it is after April 15th, 2021, you are not required to remove the excess. You can take it now or at a later time, you will be taxed on it twice either way.

 

If you take a distribution in 2022, it would be handled like a regular distribution. You will get a 2022 Form 1099-R and enter it on your 2022 tax return. Any taxes withheld will be listed on your Form 1099-R and applied to 2022.

 

@whenwillimakemoney

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