I opened my first and to date only ROTH IRA account in March 2022 and deposited $51. The custodian gave me $100 bonus. I didn't invest any of this anywhere and in March 2023 I withdrew $154 as I figured that I was not eligible to make any ROTH IRA contributions.
I did not report excess contribution/withdrawal/earning from excess in 2022 returns. I received 1099-R for 2023 year with only code J in box 7 and showing distribution of $154 in box 1 and taxable amount not determined ticked. All other boxes are empty. I did not do anything about it in my 2023 returns.
I am now amending my 2022 returns. I am able to get 5329 to show $103 as earning from $51 contributed. It doesn't show any penalty because I withdrew it before the deadline. 1040 4b shows interest income of $103 and $154 shown in 4a. Turbo tax isn't showing any form 8086
What should I do for my 2023 returns. Just ignore 1099? @DanaB27
