Took my IRA contributions out early but I'm getting taxed more money than what I've gained in my IRA (1099 R). What can I do to fix this situation?

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Took my IRA contributions out early but I'm getting taxed more money than what I've gained in my IRA (1099 R). What can I do to fix this situation?

If you took a deduction in the past for contributions, now it is taxable when you remove it. In addition, you will pay a penalty tax. There's nothing you can do about that.

Some (all?) states allow an adjustment for contributions that could not have been deducted on your state return when you made the contribution.

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Took my IRA contributions out early but I'm getting taxed more money than what I've gained in my IRA (1099 R). What can I do to fix this situation?

If you took a deduction in the past for contributions, now it is taxable when you remove it. In addition, you will pay a penalty tax. There's nothing you can do about that.

Some (all?) states allow an adjustment for contributions that could not have been deducted on your state return when you made the contribution.