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March 19, 2025
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earnings on excess contribution to Roth

  • March 19, 2025
  • 1 reply
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If an excess Roth IRA contribution for 2024 was withdrawn on March 6, 2025, and it generated earnings, should the earnings be reported for tax year 2024?

For the federal and state taxes withheld, in which tax year should they be reported?I havenot got the 1099-INT

Best answer by DawnC

The earnings are included in your taxable income for the year the excess contribution was made.   The withholding will be reported on next year's return.   What if I made an excess Roth Contribution in 2024?

1 reply

DawnC
DawnCAnswer
Employee
March 19, 2025

The earnings are included in your taxable income for the year the excess contribution was made.   The withholding will be reported on next year's return.   What if I made an excess Roth Contribution in 2024?

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