DanaB27
Expert Alumni

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. 

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