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Retirement tax questions
I'm in the same boat as OP. I contributed too much to my Roth 401k in 2019 and now need to withdraw my over-contribution. I understand I'll receive a 1099-R for any gain on that over contribution which will be taxable on my 2020 tax return. Is there anything I need to do on my 2019 tax return as a result of this over contribution. TurboTax said I should enter a 1099-R for 2019 showing me withdrawing the over contribution. Is that necessary?
March 22, 2020
5:51 PM