Hello,

I have a question I was hoping someone could help me with. I recently withdrew my excess IRA contributions for the year of 2013. When I did this I withheld the required state percentage and the federal requirement. However, the percentage was applied to my entire withdrawal, not just the earnings on my excess contribution. I was under the impression that if I just withdrew my excess, I would not have to pay the penalty on the entire amount and should have only been taxed on my gains for the tax year. I will be receiving a 1099r form which tracked my taxes being withheld. Will the money I had withheld that I don't think I needed to be accounted for in the size of my return? Or will this be reflected in my return for the following year since I am doing all of this in the next calendar year. Any help/comments will be greatly appreciated.