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Retirement tax questions
Report it as indicated on the Form 5498 provided to you by the IRA custodian. Since the IRA custodian should have prevented you from contributing $10,000 as regular contributions, so your Form 5498 will likely show in box 1 $2,000 as regular contributions (which you would enter as your contribution for 2021). If the $8,000 is shown in box 2, it would be entered only as rollover (which you would indicate when entering the Form 1099-R for the distribution). If the $8,000 was instead a repayment of a disaster distribution, it would be entered as such.
‎October 16, 2022
6:13 AM