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kristen-n-rogers
March 12, 2025
Question

I erroneously contributed to trad IRA instead of Roth IRA. called the bank and they sent the $ back to me2days later.How to reclass what now looks like 7k in income?

  • March 12, 2025
  • 1 reply
  • 0 views
How do I reclass this 7k as an error instead of it looking like I took 7k out of my retirement account?

    1 reply

    D
    DanaB27
    March 12, 2025

    To did you request a return of your contribution plus earnings or just take a regular distribution? What is the code in box 7 of your Form 1099-R?

     

    Please see Return of IRA Contributions for additional information.

     

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