Thanks DanaB27. Respectfully, I think this is in accurate. I have done more research and now spoken with multiple people who have confirmed that the "tax year" for which a Roth IRA contribution was made does not matter in the case of a distribution. The tax year return you report the 1099-R on should be the year "in" which you made the contribution.
In my case, even though my contribution was "for" tax year 2022, because I made the contribution "in" calendar year 2023 (and subsequently withdrew), I should be:
- reporting the 1099-R distribution on my tax year 2023 return (in 2024)
- using Form 1099-R 2023
- using codes J and 8 to indicate 2023 as the taxable year
To clarify (for others who may read), only if I had made tax year 2022 contributions "in" 2022 would I then need to report the distribution on my 2022 tax return. In that case, I would also use Form 1099-R 2023, but would use codes J and P to indicate 2022 as the taxable year.
Thanks
