return of excess contribution or allowed contribution:
The custodian figures any allocable earnings.
before tax due date including extension: positive earnings allocable to the excess are taxable on the Line 4b for the year of the contribution. negative earnings are ignored; in which case, for purposes of basis, consider the original requested amount as returned.
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When contributing, report what you actually contributed, not what you might have contributed in some alternate universe.
@tabula101
