Retirement tax questions


return of excess contribution:

before tax due date including extension: positive earnings allocable to the excess are taxable on the Line 4b for the year of the contribution. negative earnings are ignored; in which case, for purposes of basis, consider the original requested amount as returned.

 

Since you had negative earnings, there is nothing for you to report on your 2022 tax return.

 

@gardeningangel1 

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