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Excess Roth IRA contribution made in 2017 and withdrawn before filing in 2018. When and how do I pay taxes on any earnings?
Oct-17 - Contribute more than our income into Roth IRA
Jan-18 - Withdraw excess and reinvest as 2018 contribution.
Jan-18 - Financial reports principal and earnings withdrawn.
I've seen TurboTax say to report taxes in 2019 for tax year 2018 after receiving 1099-R.
Also, I've seen TurboTax say to enter a mock 1099-R for tax year 2017.
When and how do I pay taxes on the earnings?
Jan-18 - Withdraw excess and reinvest as 2018 contribution.
Jan-18 - Financial reports principal and earnings withdrawn.
I've seen TurboTax say to report taxes in 2019 for tax year 2018 after receiving 1099-R.
Also, I've seen TurboTax say to enter a mock 1099-R for tax year 2017.
When and how do I pay taxes on the earnings?
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‎June 4, 2019
11:05 PM