If the amount of IRA excess contribution removed by the IRA sponsor is less ($277.65) than the amount I actually contributed ($280.00), what amount should report?

[DDollar · Accepted solution]

I looks like you incurred a small loss on the $280 excess contribution.  If that's the case, and the IRA custodian calculated it correctly, then that is the amount that should have been withdrawn, and the amount that should be reported.

[dmertz]

The amount of contribution *returned* is $280.  The adjusted amount *distributed* is $277.65.