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I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction
I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction as a distribution which it isn’t. It’s a return of funds. Even though my 1099 lists this amount as non-taxable it may still put me in a higher income bracket which determines my Healthcare subsidy.
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June 6, 2019
2:42 AM
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Retirement tax questions
Since your broker issued the 1099, the IRS will be expecting it on your return.
You should contact your broker and discuss the situation.
June 6, 2019
2:42 AM