@ramNAM wrote:
@Opus 17 So, 1035 will be considered as income in schedule 1 8f for 2024?
First, the excess contribution of $1035 made in 2024 for the 2023 tax return will be taxable income on your 2023 return.
Then second, because you contributed $4150 in 2024 through payroll but are removing that to make room under the limit, that will be added back to your taxable income (since it was originally excluded from your income).
