dmertz
Level 15

Retirement tax questions

Disregard DianeC958's answer.  It was based on a mistaken belief that this was a return of contribution obtained in 2020 for a contribution made for 2019.  This does not involve filing a substitute Form 1099-R, you already have a correct Form 1099-R.

 

It appears that there are no taxable earnings shown in box 2a of this 2019 Form 1099-R.  (In fact, I suspect that there was a loss in value since the amount distributed was slightly less than $5,500 that I suspect was the contribution returned.)  If your 2018 tax return did not show an excess Roth IRA contribution on Form 5329 and box 2a of the Form 1099-R has no taxable amount in box 2a, there is no need to amend your 2018 tax return or do anything else.  Just retain everything regarding the contribution for 2018 and the return of that contribution in case the IRS ever questions whether or not your Roth IRAs still contain the excess contribution.

 

Because there is no tax withholding, this code JP 2019 Form 1099-R has no effect on your 2019 tax return.  2019 TurboTax only responds to it by indicating that the effect of the return of contribution needed to be reflected on your 2018 tax return.