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After you file
Attach a changed Form 5329 to Form 1040-X and send them together.
put -0- in Form 5329 Part IV lines 18 and 25. You don't owe that any more.
Form 1040-X line 10 column B should show the original penalty negated.
If eligible, you have to decide whether to take a deduction for your Traditional IRA.
If No, or not eligible, Form 8606 would be a new form attached to 1040-X.
This all assumes you are allowed to make a Traditional IRA contribution also.
As always, use Part III Explanation to tell the IRS what you did.
‎October 7, 2023
4:44 AM