Thanks. This is regarding my new excess, correct? Just want to be sure I'm understanding you correctly.
In the first option you're saying contact my custodian, withdraw the new excess + earnings, and then include that on the 2023 amended return, which will "charge" me the 6% fee?
And the second option is to include/report the new excess in the 2024 filing, pay the 6% fee, and then take regular distribution over the course of this year. I am concerned that in this latter option I'll end up paying more, as it's effectively what happened to my spouse, right? In her example...
She had an excess contribution in 2023 (I can report it on the amendment) so I should pay the 6% fee, and then I took a distribution in the amount (actually more) in 2024, but now I'm being charged further taxes on that distribution - on top of the withholdings that already exist on that distribution.
