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Level 2
posted Apr 7, 2020 9:17:07 PM

removal excess contribution traditional IRA 2019 in 2020, will I receive 1099R in 2021?

I found I made excess contribution to traditional in December, 2019,  and I can remove the excess contribution before tax due date in 2020. I did review the community discussion, and got some understanding: If I remove excess contribution, I will receive 1099R in 2021.

I just like to know

1. what code will be in box7 in 1099R I will receive?

2. Do I need file Amend for 2019 for the removal?

0 1 182
1 Replies
Expert Alumni
Apr 8, 2020 12:47:33 PM

If you didn't file your 2019 return yet, you can enter the 2020 1099-R 'as if you have received it' and then won't need to Amend your 2019 return later.

 

Click this link for more info on How to Create a Substitute 1099-R for removal of excess IRA contributions.