It appears there is also the issue of the amount of 6%penalty - how much is it and when exactly it needs to be paid The following are the facts and dates.
Tax year 2022 excess contribution My self - $7000 , Spouse 4450
My Excess of $7000 removed - April 24, 2024
Spouse excess removed - May 10, 2024
So, do I have to pay 6% first with 5329 for 2022 and then again second time with 2023 amended returns even though they are being filed as we speak (before Oct 15, 2024)?
