Geo7
Level 2

Get your taxes done using TurboTax

I have a similar problem.  I contributed an excess amount ($5700) to my Roth IRA in 2019, and paid the 6% penalty when I filed my 2019 return.  I forgot to withdraw the excess amount (plus earnings).  I have already made contribution to my traditional IRA for 2020, and also $2000 to my traditional IRA for 2021.  Now my question is: What is the best way to withdraw my excess contribution from my Roth IRA and can I rollover part of my excess contribution into my 2021 traditional IRA?  I am desperate