qbteachmt
Level 15
07-01-2022
12:03 PM
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Oh: "Client concerns is that 1099 R will not indicate this is withdrew from 2020 excess contribution"
That's right. The Form 1099-R will be for 2022. You will have to report all of this on the 2020, 2021 and 2022 tax filings, as appropriate to what happened:
2020 excess contribution excise tax + earnings income tax
2021 still has the excess contribution and new earnings
2022 has the corrective distribution, so there are only the earnings to report for 2022
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Don't yell at us; we're volunteers