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ROTH IRA Excessive Contribution
Hello,
While i was filing my tax return for the year 2022, TT claimed that i have excess contribution in ROTH IRA and i need to remove around $4400 something from my Roth IRA (not sure about the right amount). Based on the explanation i received from the expert, i filed my tax return for 2022 and removed the excess contribution later from my ROTH IRA of amount $3600. I received 1099-R form for the year 2023. What am i supposed to do here? Do i need to file this for 2023 or do i need to amend my 2022 return? If yes, the taxable amount in column 2a should be changed? How can i know what is the exact amount i should have removed and what if i dont?
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‎April 13, 2024
12:58 PM