- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Thanks for your response! I contacted my account administrator (Fidelity). They will not issue an early 1099-R to me in this year. To get the withdrawal details, they issued me a letter that has the following information-
1) the excess contribution amount was $X
2) the total applicable earnings or loss for the computation period is $Y
3) the total amount to be returned to you is $X + $Y.
So I will use this data to enter in boxes 1 & 2a on the 1099-R.
I also confirmed how will they report this activity- as a contribution or normal Roth distribution?
They said they'll report it as a "Renewal of excess contribution" . It'll be reported as a withdrawal made for correction.
‎August 19, 2019
3:06 PM