Question about 1099 R
Hi. When I was filing my 2023 tax return last year I realized I over contributed in 2022 and 2023. I paid the penalty for my 2022 over contribution in my 2023 return. For the over contribution in 2023 I took out the contribution before April 2023 (so I believe no penalty). I received two 1099-R forms in 2024 for my distributions of 6599 (from 2023 code JP) and 6000 (from 2022 code J). For the 6599, 6500 was my contribution and 99 was the taxable amount. I entered the taxable amount on line 2a. My question is, do I need to amend my 2023 tax return to pay taxes on the 99? I get an alert saying if you didn't already include this 1099-R on your 2023 tax return, you might need to amend your 2023 tax return, because this 1099-R is reporting earnings on a contribution you made in 2023. (I received the forms in the end of 2024 so I couldn't include in 2023 tax return)
I remember when I took out over over contribution from vanguard the rep asked me something about whether I wanted tax taken out now or later (honestly I'm not sure what she asked but it was regarding tax).
Also it asks me what my IRA cost basis. Is that basically the total amount of money I contributed to my Roth over the years minus the distributions?