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Author: lswswein Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Excess Roth Contributions Date: 3/13/2006 7:19 PM
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Hi
This is a question about reporting excess Roth IRA contributions. The background is this:

1. In Jan'2004 I made ROTH Ira contributions. In Feb'2005 I realized that I had contributed more than my allowed amount to the Roth IRA. So I requested a withdrawal of excess contributions. I was refunded $400 in excess contribution and also $104 which was supposed to be the money that the excess contribution grew by.

2. In my 2004 taxes I did not report any Roth IRA withdrawal as it was the excess contributions that were withdrawn before turning in the taxes.

3. Now for 2005 I get a 1099-R for $504. How do I report this - All I did was excess contribution withdrawn and they need not be reported as far as I understand! But the IRS will now have a 1099 which my taxes don't have! What should I do?

thanks a lot
-h
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