ksbird
New Member

How can I report/correct a 2016 Roth IRA contribution removed in error?

Calculated my maximum 2016 Roth IRA contribution would be 3500.00. Removed 1506.09 (1450.00 excess contribution, 56.09 earnings) in early 2017. Now I've discovered my maximum 2016 Roth IRA contribution will be 5500.00. Haven't filed my 2016 taxes. What should I do on my 2016 return to report this situation and avoid the need for an amended return when I receive my 1099-R in early 2018?