- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
No, you do not enter that you had an excess contribution since you removed it in time.
To confirm, you do not show an excess contribution on your 2022 Form 5329 part IV (if it was Roth IRA) or part III (if it was a traditional IRA)? You should not have a 6% penalty on your 2022 tax return since you removed it before the due date of the 2022 return and therefore did not have an excess contribution.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 17, 2024
7:56 AM