Yes, you will only have Part I of Form 5329.
Yes, that is correct when you withdraw the excess contributions plus earnings then it is like the excess contribution never happened.
Yes, you leave the "Additional Information From 2024 Federal Tax Return" this will let the IRS know that you withdrew the excess contribution plus earnings .
When you request the withdrawal of excess contributions plus earnings with your financial institution by the due date they will issue a 2025 Form 1099-R at beginning of 2026 . This will let the IRS know that the excess has been withdrawn. This Form 1099-R will be taxable on your 2024 return and you can either entered the Form 1099-R with code P and J already now with my previous instructions or wait until you get the Form 1099-R and then amend your 2024 return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
