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Excess Contribution to Roth IRA
I know this topic has been covered but I need some clarification. I made an excess contribution to my Roth IRA in December of 2018. In March of 2019, I removed the excess and applied it to my 2019 contributions. I have received a 1099-R stating that I had $45.66 of taxable income earnings from this excess contribution, and Turbo Tax is telling me I need to amend my 2018 tax return, even though this was earned in 2019. Do I claim this 1099-R on my 2019 taxes, or do I amend my 2018 taxes? If so, do I only have to amend my gross income, and not change anything on the excess contribution?
Thanks for any clarification
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‎February 6, 2020
10:54 AM