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Help with 1099-R on excess contributions
I recieved 2 1099-R forms this year: one from excess 2021 Roth IRA contributions that were removed Feb 2022 prior to filing 2021 taxes, and another for 2022 excess Roth IRA contributions removed earlier this year. My understanding is that i need to report the earnings from the contributions as income as well as pay the 10% tax for early withdrawal. If I report both 1099Rs on 2022's taxes does this take care of all I need to do?
‎February 18, 2023
12:30 PM