excess IRA contribution hi
I made an excess contribution of $2500 to my ROTH IRA in FEB 2014 while doing my 2013 returns. While working on my return i realized I was ineligible to contribute to ROTH IRA. I immediately withdrew the $2500 from ROTH IRA.
There was no captial gains etc no change in value of the acccount -as I withdrew it almost immediately the next day.
Now i have a Form 1099 R with Distribution code J and taxable income not determined.
this is causing an increase in my 2014 income by $2500 - how do i avoid this? |