MarilynG1
Expert Alumni

Retirement tax questions

Yes, only the Box 2a gains amount is taxable on your 2023 return, since you are withdrawing the excess contribution prior to tax filing due date.

 

You don't need an entry for Box 3.  Codes P and J go in Box 7.

 

You can reach out to your broker for their Federal ID number.

 

The 1099-R is not a 'substitute' one.

 

You will need to indicate 'other reason' for an exception to the Early Withdrawal Penalty if you're under 59.5 and add the Earnings amount.  This is under Other Tax Situations > Additional Tax Payments > Extra Tax on Early Retirement Withdrawals.

 

Here's more info on Excess Roth IRA Contributions you may find helpful.

 

 

 

@lowted 

@philly2024 

 

 

 

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