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Retirement tax questions
Thank you very much @dmertz
Answer to the following statement:
"The $5,035.28 code JP 2022 Form 1099-R doesn't make sense. If this was a return of your spouse's $4,500 Roth IRA contribution, the amount in be 2a should be $535.28, not $0."
I did contact the brokerage and apparently they calculated the amount based on my withdrawal request of ($6000 and it was a mistake from my side) from Roth IRA while I should have requested only $4,500.
Brokerage firm informs me that they will pull the amount I requested and they do not check what was contributed for that year, and they pulled more than the contribution of 2021. This is why Line 2 has 0 was their explanation. That brings the question of can I pay back that amount?
‎April 16, 2023
7:07 AM