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Get your taxes done using TurboTax
Thank you for your response. I still need your advice for the following questions:
1. I will mail my amended 2023 return to IRS. Should I only need to mail the form1040-X and the forms related to the excess contributions (form 1099-R, schedule 2, form 5329)? Since I owe money to IRS, I need to include a check for it, right?
2. Because it is now passed the due date of 2024, I have to pay the 6% excess contribution penalty for 2024. Since I already filed my 2024 return, I need to file an amended 2024 return for the excess contribution carryover or I can pay the penalty in 2025 return?
3. Should I only need to take a regular distribution for the excess amount, don't need to concern the earnings, right? (should be no any earnings since the market dropped a lot now).
Thank you for your help!