Currently Line 19a is reporting this as taxable. The withdrawal is not taxed on the federal return. See details.
I made an excess contribution of $6500 to a traditional Rollover IRA in 2017. The excess amount was returned in 2017, but only $6414, resulting in a $86 loss. The 1099 R - Box 1 = $6414 and Box 7 = "8". Although the Federal 1040 does not tax me on the $6414, the NJ 1040 is treating it as a withdrawal and taxing me on it.
Two questions:
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You neglected to put Yes, for the IRA checkmark in Box 7.
You neglected to put Yes, for the IRA checkmark in Box 7.
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