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New Member
posted Jun 6, 2019 12:37:51 AM

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?

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1 Best answer
Expert Alumni
Jun 6, 2019 12:37:53 AM

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  If that's the case, and the IRA custodian calculated it correctly, then that is the amount that should have been withdrawn, and the amount that should be reported.

2 Replies
Expert Alumni
Jun 6, 2019 12:37:53 AM

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  If that's the case, and the IRA custodian calculated it correctly, then that is the amount that should have been withdrawn, and the amount that should be reported.

Level 15
Jun 6, 2019 12:37:54 AM

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