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Reporting 2025 Return of Excess Roth Earnings Without a 1099-R

rainbow8042

Hello,

Fidelity processed my Return of Excess Contributions, returning my excess contributions + earnings from 2025. I was wondering whether I should just put the contributions that I withdrew in the "Excess Roth IRA Contributions" section, or if I should include the earnings as well. Let's say that I contributed an excess amount of $3000 and my earnings were $300 - would I put $3000 or $3300 here? I just want to make sure I put the correct amount for now before I officially get the 1099-R from Fidelity in 2027.

Thank you!

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kiarab

Hello rainbow8042,

On the page asking you if you withdrew any excess contributions, you will just want to enter the contributions you withdrew. The earnings should not be included and will be reported on the 1099-R reporting your withdrawal of the excess contributions.

Gman2

But that 1099R won't come until 2027, and the earnings should be reported for the year the contribution was made, 2025. Will that mean I have to file an amended return for 2025 in 2027 when I also file my 2026 taxes? Or can I include those earnings in my 2026 (for 2025) 1040 somewhere - "other income", or create my own 1099R?

MatthewD

Hello Gman2,

Yes, generally this means filing an amendment in 2027 for tax year 2025 when you get the 1099-R. We recommend this approach so that you get accurate amounts of the distributions and the correct codes for Box 7.

Gman2

Thank you. Can I take care of it this year, my 2025 taxes, and avoid an amended return if I create a substitute 1099-R and claim the earnings on my 2025 1040 form with all my other earnings from 2025? Vanguard gave me an exact figure of what the earnings were on my withdrawn excessive Roth contribution (withdrawn in 2026).

Taylor

Hello Gman2,

We do not recommend this work around. A 1099-R form needs to be issued by the managing bank and will be issued to both you and the IRS. The IRS will expect the 1099-R form to match the form they receive.

Gman2

Thank you again!