Question
1099Q Receive in 2023 Need to Report Earnings in 2021 Tax Return
Hi Experts,
I contributed more on the Coverdell account than I was allowed in 2021. I got that removed before 5/31/22. There are earnings from the over contribution. I will be getting the 1099Q in 2023. To avoid amending tax return for 2021 when I receive the 1099Q in 2023, do I need to enter the earnings on my 2021 tax return? If so which portion in Turbo tax I should enter this earning information?
Thank you for the assistance!
