It depends.

If these were Traditional IRA contributions, they may be reflected on your tax return. Otherwise, you may ask for written confirmation from the IRS that the errors were, in fact, corrected and that the corrections are now properly reflected on your records.

For more information, read Avoiding IRS Penalties On Your IRA Assets and IRA Year-End Statements.

This question was answered by Denise Appleby
(Contact Denise)

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