DaveF1006
Expert Alumni

Retirement tax questions

Do not enter a 1099R for 2019. This will cause unneeded heartache for you next year when you receive the 1099R.  This year, all you need to do is indicate that you have/or will have returned the excess contribution before 04/15. Next year you will receive a 1099R with code P indicating you returned your contribution. The only taxable portion on the 1099R will be for interest earned on the earnings of the distribution.

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