Yes Turno tax calculated my over amount… but I was not sure if the 6% tax would be assessed every year or now that it will be looked at at as a 2025 contribution of a one time 6% penalty would be assessed. Also I figure this was a better way to go rather than income tax on the same $1550 amount.
so once walking back through to complete I will say “No” to if I want to withdraw any amount but want to make sure each year they won’t penalize me the 6%. So will I be charged income tax as well as a 6% penalty by leaving it in for 2025? Instead of pulling it out and being only taxed as income and avoid the 6% penalty?
