DanaB27
Expert Alumni

Retirement tax questions

To clarify what is the code in box 7? Did you request a return of contributions plus earnings or just withdrew the funds? 

 

For the Form 1099-R to be coded correctly you should have requested the return of contribution. If this was return of excess contribution with a loss then the Form 1099-R should have code 8 and 1 and box 2a should be $0.

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