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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
‎February 20, 2021
9:55 AM