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Get your taxes done using TurboTax
Now fast forward to 2022 and I am trying to do my taxes again. I removed all the money from the Roth IRA as detailed above and have paid no taxes at the time of the withdrawl. I have contributed 6000$ to the roth IRA in 2020 and 6000$ in 2021. I was not qualified to contribute to Roth. I withdrew 12417$ in 2022 before the tax filling deadline. I paid the excess penalty in 2021 for 6000$ and an ammended my tax return in 2020 for the excess contribution. I have removed the 2021 excess money contributed before the tax filling deadlines. do i still pay penalty for the 2020 money in 2022 the eccess 6000$. Also how should I report in the turbo tax of this question. kindly help.
March 26, 2023
11:59 AM