MinhT1
Expert Alumni

Retirement tax questions

1. $802 earnings are taxable, $7,000 not taxable as they are withdrawals of Roth IRA contributions.

 

2.The answer should be No as you withdrew the excess contribution.

 

3. The answer is No

 

4. You should 0 as the excess contribution has been withdrawn.

 

5. The answer is No.

 

6. On your 2024 tax return, answer that the 1099-R with code PJ is for 2025.

 

[Edited 03/10/25 | 12:00 PM PST]

 

@jackkgan  I have edited point 6 above.

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