I had excess Roth IRA contribution for 2016. I have removed the contribution prior to filing my tax return. The Net Income Attributable (NIA) was also distributed. I am under 59 1/2.
- Is the NIA distribution taxable, or can it be considered removal of contributed funds (the Roth IRA has contributions from prior years).
- If it is taxable, is it reported in 2016 (same year as the excess contribution) or 2017 (year the distribution was made)?
- If taxable in 2016 how to I report without a 1099-R?
