konradsa
Mar 19, 2011, 08:59 AM
Hi,
I got the following issue: Last year 2010 I put about $3500 in my Roth IRA, but realized then back in Feb 2011 that I exceeded the income limit for contributions by far. Now I sent Vanguard a form to remove all the excess and withhold tax on the gains, which they did.
However, I did not get any form now about this from Vanguard, which makes me wonder which tax year I have to include the transaction and gains on, the 2010 or next year's 2011 return? And if this year, what form do I need to file for the gains I had removed? I called Vanguard about it, they told me I won't receive a form 1099 anymore this year, and they also could not answer me whether the form I will receive next year will be for the 2010 or 2011 tax year.
Thank you!
I got the following issue: Last year 2010 I put about $3500 in my Roth IRA, but realized then back in Feb 2011 that I exceeded the income limit for contributions by far. Now I sent Vanguard a form to remove all the excess and withhold tax on the gains, which they did.
However, I did not get any form now about this from Vanguard, which makes me wonder which tax year I have to include the transaction and gains on, the 2010 or next year's 2011 return? And if this year, what form do I need to file for the gains I had removed? I called Vanguard about it, they told me I won't receive a form 1099 anymore this year, and they also could not answer me whether the form I will receive next year will be for the 2010 or 2011 tax year.
Thank you!