Reporting Removal of Excess IRA Contributions and Earnings

[mjJR01]

I made excess contributions to my traditional IRA for 2020. I made the contributions for 2020 in calendar years 2020 and 2021. I removed all of the excess contributions and earnings in February 2021. The IRA administrator won't send me the 1099-R until Jan 2022. I haven't filed my 2020 tax return yet. I will not claim an IRA deduction on my 2020 tax return. Do I report the returned excess contributions and earnings on my 2020 tax return, or should I wait to receive the 1099-R in 2021, and then report the excess contributions and earnings on my 2021 tax return?

[baldietax]

I'm no tax expert but had an excess to resolve but different situation which led me to Form 5329.  From what I've read on this, if you remove the excess for 2020 by the filing deadline you avoid the 6% penalty (not sure about the 10% early withdrawal penalty) - but the earnings are taxable in the year of the contribution and you need to file Form 5329 for 2020 not 2021.  Suggest to go over the instructions for Form 5329.  If you already filed you may need to file an amended return or may be able to submit Form 5329 separately.