correctax
Returning Member

Retirement tax questions

I had the similar situation. Except my backdoor roth IRA rollover happened in late Apr 2019 while my depositing in traditional IRA happened in early Apr 2019 for both 2018 and 2019 IRA limit. Now in 2019 1099-R, I have

1: 11,500     

2a: 11,500

2b: crossed

7: 2 crossed

Does that mean I need to pay penalties for excess contribution for 2018 contribution?