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Retirement tax questions
Not quite. Any earnings on excess must be reported as ordinary income in 2016. If you don't , you'll end up having to amend later when you get the 1099-R from the custodian showing taxable earnings.
If your money was sitting and earned nothing, then there is nothing to report.
Put the excess earnings on Line 15B.
If your money was sitting and earned nothing, then there is nothing to report.
Put the excess earnings on Line 15B.
‎June 4, 2019
10:08 PM