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Retirement tax questions
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 contribution amount as returned.
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If any positive earnings were not reported on the filed return, you need to amend 2024 tax return.
‎June 12, 2025
12:26 AM