Hello Atlanta Tax Expert,
An excess contribution was made in Roth for 2020. Immediately on realizing it was excess contribution , the excess was withdrawn along with earnings. Fidelity has told they will issue a 1099 R only for 2021. Doubt is regarding if anything should be reported in 2020 return. Will the earnings be taxed for 2020 or will it be taxed in 2021 when it shows in the 1099 R.
Do advice