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Thank you for your response!  I'm still concerned that I do not need to apply this formula?  I've made a lot of money in the IRA after that excess contribution.

 

Net Income = Excess Contribution + (Adjusted Closing Balance - Adjusted Opening Balance)/Adjusted    Opening Balance

Then remove the net income + the excess contribution

 

 I'm so worried I will have to pay hefty penalties and interest if I make an error.