Thank you for such a detailed reply and help me understand all of this situation.
I have two follow up questions.
you mentioned in 2020 excess contributions write 6000$ ( unless its carried over) what does carried over means? I have high income so I do not qualify for any Roth contributions in 2020 and 2021. So 6000$ should be written correct?
Second question is what does Excess roth IRA credit means when it asks to apply anything towards credit?
Also I will likely ammend the 2021 Tax return next year as at this time I have no clue about the total amount withdrawn from the Roth IRA as it was withdrawn in the form of stocks and deposited to my regular brokage account. So I dont know the exact amount of contributions and earnings that are withdrawns for 2020 and 2021. Also I have not withheld taxes on the contributions and these are early withdrawls from the roth as I am only 39 and the roth was not 5 years old. I plan to pay them at the time of filling my 2022 taxes. Will that change anything in the detailed answer you have provided above?
Thank you so much for the detailed answer above. I look forward to your reply.
