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If this was a 2016 Traditional IRA contribution you've taken back, then you won't have a 1099-R until next year. So you'll use the 1099-R entry screen and create your own.
Put the combined total of contributions plus earnings in box 1, and only the earnings in box 2a. The only other box you'll need to make an entry in is box 7, where you'll put code "8" (if this were a Roth IRA, you would have to add a second code, "J").
On a subsequent screen you'll be asked to make an explanation and you can write "Return of xxxx excess contribution plus xxx earnings."
The gross distribution amount (contribution + earnings) will carry to box 15a of the 1040, and the earnings amount will be shown in box 15b (as taxable). [edited 4/5/17]
If this was a 2016 Traditional IRA contribution you've taken back, then you won't have a 1099-R until next year. So you'll use the 1099-R entry screen and create your own.
Put the combined total of contributions plus earnings in box 1, and only the earnings in box 2a. The only other box you'll need to make an entry in is box 7, where you'll put code "8" (if this were a Roth IRA, you would have to add a second code, "J").
On a subsequent screen you'll be asked to make an explanation and you can write "Return of xxxx excess contribution plus xxx earnings."
The gross distribution amount (contribution + earnings) will carry to box 15a of the 1040, and the earnings amount will be shown in box 15b (as taxable). [edited 4/5/17]
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