New to IRA, need assistance w/ excess contribution
Jdazed
Member Posts: 1 Newcomer
I opened an IRA account late 2024 and had contributed for 2024 in 2025. I haven’t moved 6000 of my contribution as I was still trying to figure where to invest it. As i was filing my 2024 tax return I found out i contributed in excess and withdrew the excess from IRA account before filing my 2024 tax return. I realize as I’m now working on the 2025 tax return that I was suppose to file an excess contribution on Fidelity (which I didn’t I just withdrew the excess amount myself). I received a 1099-R for 2025, I think its basically counting as another taxable income in 2025. How do i fix this so it doesn’t count as taxable income?
0