I made a $6,500 contribution to my Fidelity Traditional IRA on September 30, 2024, using after-tax money from my Chase checking account. This contribution is non-deductible. I later decided to withdraw the $6,500 principal without withdrawing the $48 in earnings that accrued in the account. Fidelity informed me that they could only code the withdrawal as a 'premature distribution' on the Form 1099-R, even though this is a return of my non-deductible contribution (basis). I want to ensure this withdrawal is correctly reported to avoid being taxed again on the $6,500. I plan to use Form 8606 to declare the contribution as non-deductible and confirm the withdrawal is not taxable. Can you help me report this properly?
