Overcontributed to Roth IRA in 2018. Do I add my 1099-R info to 2018 and 2019 tax returns?

[curlytwotoes]

I over-contributed to my Roth IRA for Tax Year 2018 and ended up withdrawing the excess amount prior to filing my taxes.  Therefore, I just filed the amount I was allowed to contribute without any excess.  Consequently, for the Tax Year 2019, I received a 1099-R.  After filling out the 1099-R info into TurboTax, TurboTax advised me that I may need to amend my 2018 taxes.  My question is, does the 2019 1099-R info stay on my 2019 tax return, just need to go on my 2018 amended tax return, or should it be on both?

[KarenM90 · Accepted solution]

No, you don't need to file an amended return.

For purposes of determining excess contributions, any contribution that is withdrawn on or before the due date (including extensions) for filing your tax return for the year is treated as an amount not contributed as long as the contributions, as well as any earnings, were also withdrawn before you filed the 2018 return.  

The 2019 1099R is just reported on your 2019 return, as long as the above is correct.

[frodrigu1]

The over contribution withdrawal needs clarification. I did the removing myself prior to tax filing deadline, and now I received a 1099R with an early withdrawal for year 2018. You must have your Roth administrator withdraw it so they may code it properly. As it stands, I still have the excess contribution of $780  for 2018, and my Roth plan administrator won't correct the 'improper'

withdrawal. I took out the excess within 5 days, but in that time frame, I received $139 dollars in dividends, which according to Turbo Tax is a gain, which must also be removed. I have posted this question on this forum, but yet to have an answer.. 

[ThomasM125]

Since you overpaid in 2018, you should amend that tax return to report that. You can correct the over payment situation in 2019 by contributing less than the maximum amount allowed in 2019, in an amount equal to the over payment plus interest. Or, you can take a distribution in 2019 and make your maximum contribution.

[charlienbubba202]

So what do I put in box 5