Can I enter a 1099-R for removal of an excess Roth IRA contribution myself? How do I enter the 1099-R if the excess contribution generated a loss (negative earnings)?

[DaveF1006]

To clarify, what do you mean by negative earnings?

[alexjanestein]

The excess contribution actually generated a loss. So when I removed the excess contribution the amount that was removed was the original contribution minus the loss.

[FangxiaL]

You can report the removal on your 2021 return so that you can ignore the 2022 1099-R you will receive in 2023.

To create a 1099-R in your 2021 return please follow the steps below:

1. Open your return
2. Click on the "Search" on the top and type “1099-R”
3. Click on “Jump to 1099-R”
4. Select "I'll type it in myself"
5. Box 1 enter total distribution (contribution plus earning)
6. Box 2 enter the earnings
7. Box 7 enter P and J 
8. On the "Which year on Form 1099-R" screen say that this is a 2022 1099-R.

Since you had a loss, do not enter it in box 2a. 

@alexjanestein