Solved: I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction

I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction as a distribution which it isn’t. It’s a return of funds. Even though my 1099 lists this amount as non-taxable it may still put me in a higher income bracket which determines my Healthcare subsidy.
1 Best answer

Accepted Solutions
Highlighted
New Member

I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction

Since your broker issued the 1099, the IRS will be expecting it on your return.  

You should contact your broker and discuss the situation.

View solution in original post

1 Reply
Highlighted
New Member

I filed a "removal of excess roth ira contributions form" with my broker and returned the amount to my margin account. Now my 1099 for my Roth indicates this transaction

Since your broker issued the 1099, the IRS will be expecting it on your return.  

You should contact your broker and discuss the situation.

View solution in original post

v
Privacy Settings