pkurt
Level 1
03-16-2022
11:23 AM
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My client inadvertently made an excess Traditional IRA contribution in 2021. They contacted Fidelity who has recently refunded the excess contribution plus earnings. The earnings will be reported on the 2021 Schedule B. Where do I show the refund to offset the initial excess contribution?
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dascpa
Level 12
03-16-2022
12:02 PM
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IRA Contributions Worksheet, Line 6 for withdrawn contributions before the due date.
qbteachmt
Level 15
03-16-2022
12:25 PM
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"The earnings will be reported on the 2021 Schedule B. Where do I show the refund to offset the initial excess contribution?"
Not an Investment earnings event; it's a Retirement account mistake.
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