excess roth contributions

How do I enter earnings on excess roth contributions in proseries, removed before the deadline for 2020 when I have no 1099R until 1/22?

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Intuit Community Champion

Wont the earnings be on a 1099R for 2021 since thats when it was pulled out of the account?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Level 3

They go on a 2022 1099R with a code 8 to report the the earnings but the earnings go on the 2020 tax return.

Level 15

You wait to enter on 2021 tax return when you receive the 1099R

Level 3

They belong on the 2020 tax return.

Intuit Community Champion

Thats not been my experience.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Level 15

Line 23:

You can withdraw some or all of your excess contributions for 2020 and they will be treated as not having been contributed if:

You make the withdrawal by the due date, including extensions, of your 2020 tax return; and
You withdraw any earnings on the withdrawn contributions and include the earnings in gross income (see the Instructions for Form 8606 for details). Also, if you hadn’t reached age 59½ at the time of the withdrawal, include the earnings as an early distribution on line 1 of Form 5329 for the year in which you report the earnings.

Here:

If you need help computing the Earnings, the IRS has Pubs 590A and B for retirement account management, and see this article:

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