DanaB27
Expert Alumni

After you file

Yes, if you didn't actually have an excess contribution and amended your 2018 return to show this then you will remove the excess contribution from prior years during the interview on your 2022 tax return:

 

  1. Click on "Search" on the top right and type “IRA contributions”
  2. Click on “Jump to IRA contributions"
  3. Select “Roth IRA
  4. On the "Do you have any Excess Roth Contributions" answer "Yes"
  5. On the "Enter Excess Contributions" screen delete the entry.

 

Yes, if you didn't have an excess contribution in 2018 then you don't have to pay the 6% penalty for the years 2019-2021. If the returns show the 6% penalty on Form 5329 part IV then you should file an amendment for those years.

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