I made excess Roth IRA contribution in 2024 so now I have to withdraw that amount plus the earnings from that amount. To calculate the earnings, the IRS uses a formula called Net Income Attributable (NIA) method. It's a straight forward formula. However, what makes my case complicated is I also did a couple of Roth conversions from my traditional IRA a couple months after the time of the excess contribution. Since both my excess contribution and conversion have generated earnings, it's difficult to figure out the earnings from the excess contribution only.
What should I do?
