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Retirement tax questions
return of excess contribution:
before tax filing date including extension: positive earnings allocable to the excess are included in income on 1040 Line 4b for the year of the contribution. negative earnings are ignored; in any case, for purposes of basis, consider the original requested amount as returned.
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This goes on your 2023 tax return.
If you wait for the 1099-R, you will have to amend.
‎April 3, 2024
4:32 PM