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Get your taxes done using TurboTax
After the due date of the tax return, the penalty is on your excess contribution remaining after distributions, which was $6,000 and 12000.
The penalty for 2023 will be zero if you get all the money out by year end.
The lower year end value in 2021 or 2022 doesn't help you because you took no disitrbution in those years.
‎December 19, 2023
10:57 AM