can I remove my 2021 Individual Roth 401K contribution?
I filed an extension for filing my corp tax return for 2021. I made a 2021 contribution of $26K on 7/26/21 into my Individual Roth 401K at TD Ameritrade into a cash account. TD Ameritrade did not report my contribution to the IRS. Since then, I transferred my account to E-Trade. I would like to remove my 2021 Roth contribution and instead make a contribution into my Traditional Individual 401K for 2021 which is also at E-Trade. Since it is past 4/15/21, the only way E-Trade will let me get my $26K contribution out of my E-Trade Roth 401K is to take a normal distribution. A 1099R will be generated in January as a 2022 Roth distribution. This will not be taxable as it is a Roth distribution. Also, I never invested the $26K 2021 contribution. It is still in a cash account. Please advise If I am allowed to do this. If so, my accountant told me I will need to amend my 2021 W2 to code my 2021 contribution in box 12a to code D.
Thank you,
Sue
Submitted by Susan Shandra on Tue, 2022-09-06 17:10