- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Yes they are saying the same thing. A distribution of excess after the due date of the corresponding tax return is just a regular distribution, code J if you are under age 59½. That's why for a distribution of excess after the due date of the tax return I suggest not even telling the Roth IRA custodian that the distribution is to resolve an excess contribution. Webull got it right. Less competent IRA custodians such as banks often don't and they process a return of contribution before the due date of the tax return when there is actually no such contribution to return, making a mess.
January 12, 2025
7:58 PM