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Level 1
posted Feb 9, 2020 1:41:21 PM

Excess Roth IRA contribution in 2018

I made an excess contribution to a Roth IRA in 2018.  I removed the excess contribution prior to submitting my 2018 tax return.  The excess removed had negative earnings.  The 2019-R I received shows PJ in box 7, zero taxable earnings, and reflects the net excess removed (amount contributed minus loss).  Is an amended 2018 tax return required as there were no earnings on the excess contribution?

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1 Best answer
Employee Tax Expert
Feb 9, 2020 2:10:36 PM

Since your 1099-R has $0 in box 2a it will not change your taxable amount on your 2018 tax return. Any amendment would be only informational.  

 

1 Replies
Employee Tax Expert
Feb 9, 2020 2:10:36 PM

Since your 1099-R has $0 in box 2a it will not change your taxable amount on your 2018 tax return. Any amendment would be only informational.