I received a 2016 1099-R for an overcontribution to a Roth IRA. The Payer sent me a check for the over contribution. When I enter the data into the 2016 return, it indicates I may have to file an amended 2015 return. Do I have to file an amended return?

[ehlers5]

It was an inadvertent contribution. There was a loss during the time I owned it.

[resocal · Accepted solution]

If the amount that you contributed (which was over the allowed amount) was for the year of 2015, then yes, you will have to file an amended return. That is, if the 2015 tax program allowed you to deduct the greater amount. That is usually not the case. The program is set to compute the maximum amount that is allowed to be deducted on your return. If the correct amount was on the return, and you contributed more than that amount to the financial company, then they are simply returning your money. No need to file amended return.