AmyC
Employee Tax Expert

Get your taxes done using TurboTax

Since you did the timely withdrawal before filing, I want to believe that your 2021 is correct. You state that you pulled out the excess before filing and your form shows no taxable income. This means you did not even have interest earned on your excess contribution.

 

I suggest getting more familiar with the ROTH and requirements so you can determine what you actually did, what is required, and if anything needs to be done. See when income must be included at ROTH Accounts | IRS. Otherwise, we need to know more to help.

 

Please see one of my favorite websites IRS Retirement Plans. Since you are self-employed, you have the ability to hide away much more than the ROTH allows. You may want to consider your other options. For example, a SEP IRA can go up to $61,000 - depending on income factors. 

 

The amended form, may have wonky numbers displayed but the form should be correct. The only thing to have changed would have been the ROTH related items- if needed at all.

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