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Excess Roth IRA Contribution
I filed my 2020 tax return. After filing (but prior to May 17), I made a 2020 contribution to my IRA ($7000) and my wife's IRA ($7000). I subsequently learned that these contribution are in excess of those allowed because of our earned income. How do I correct these contributions? Do I file an amended 2020 return even though the 2020 tax return does not reflect any Roth contributions?
‎June 4, 2021
8:12 PM