Yes, you have to withdraw the new excess of $110 ($410-300) as a regular distribution by December 31, 2022.
Yes, you will be exempt from the 10% early withdrawal penalty if you are over 59 ½. Please follow these steps:
- Click on the "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Enter your Form 1099-R
- Click "Continue" after all 1099-R are entered and answer all the questions.
- Continue until "Did you use your IRA to pay for any of these expenses?" screen and enter the amount of earnings box 2a under "Another reason" if you are over 59 1/2
@DPNJ
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