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Roth IRA excess contributions 2021
Because of my AGI, I became ineligible to contribute to my Roth IRA in 2021. However, I had already contributed $5,000 between Jan 2021 and Dec 2021. In Feb 2022, I withdrew the excess contribution of $5,000. I also withdrew the earnings on the excess contribution. It is my understanding that I have to pay taxes on the excess contribution earnings in tax year 2021. I'm not sure how/where to enter the excess contribution withdrawel of $5,000 or the earnings on the excess contribution. I don't have a 1099-R. I have not filed my taxes yet for 2021.
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‎February 20, 2022
11:58 AM