Solved: excess contribution withdrawal generating a 1099-R for tax year 2021 - IRA custodian time limit for 2021 1099-R

ira_query · Feb 16, 2022 3:44:25 PM

<P>I need to make a "Remove Excess Contribution" distribution from my Traditional IRA due to an ineligible rollover that occurred in 2021. I understand that the earnings due to those funds must be calculated and reported on the 1099-R as taxable income for tax year 2021. (The original rollover amount will not be taxable as long as it's removed by April 18, 2022.) How long does my Traditional IRA custodian have to send to me (and the IRS) the 2021 1099-R for this distribution?</P>

excess contribution withdrawal generating a 1099-R for tax year 2021 - IRA custodian time limit for 2021 1099-R

I just wanted to say thanks to everyone for what I feel is a lot of very good, very helpful and accurate information here. I get it now. And I think I'm leaning towards not trying to infer what I believe the bank will eventually produce on this 1099-R. They could potentially make other mistakes that I'll have to deal with next year, so I should probably just not enter this nonexistent 1099-R on my initial 2021 return and then plan on amending my 2021 return next year.