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After you file
You took the excess contribution out of your ROTH IRA for tax year 2020, so you need to pay tax on the earnings plus a penalty for early withdrawal for 2020.
You need to amend your 2020 tax return to report the 1099-R form. TurboTax will calculate the tax and penalty. You can leave the rest of your 2020 tax return alone.
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‎April 4, 2022
8:38 PM
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